Attached with the bailout of the FMs and the remaining institutions surely to follow will be a veiled warning to the American taxpayer: "we had to bail them out. If they go down the tubes, so does America!"
Just my luck, on Independence Day weekend, I'm suddenly dependent on family, friends and Unemployment Insurance.
People in every sector fear they could be laid off at any second. Divorce rates are up; personal trainers are losing their clients. No one has the time or inclination to work out. The toll is unguessable.
Women have been disproportionately impacted by economic distress: they're the first ones to lose their jobs during cutbacks, and they're the primary caretakers for their families in cash-strapped times.
Many of the wealthiest Americans aren't worried about the weakening economy at all -- they are actually excited about it.
The bubbles have burst. Our economy is sinking. Americans are looking for a new approach. The increase in the minimum wage points the way forward.
The basic problem faced by the US economy right now is excessive debt caused by recklessly low interest rates from the Federal Reserve.
This debate has regrettably come down to a "Democrats want to talk badly about the economy in an election year while Republicans are the eternal optimists who love their country" line of thinking.
FDR had Big Business, Reagan had Big Labor, and my guess is that the new president inaugurated next January will have Big Finance.
With the release of the latest GDP report, the possibility of a consumer lead recession just increased.
For many women, the cost of beautification has grown staggering. Every year ushers in a series of must-do rituals; every month the beauty industry se...
From turning off the lights to using a fan to keeping the AC fine-tuned and humming, there are plenty of no-brainer ways to eco-nomize through the summer months.
If hard times have already fallen on a majority of Americans, then "recession" doesn't seem to be a very useful term anymore.
I'm proposing a radical shift in rhetoric: Any stimulus package should focus on the poor and the unemployed, not because they spend more, but because they are most in need of help.
No one knows the future because it hasn't happened yet. Sure, you can guess -- everyone can guess. But no one knows. The pundits know no more than you do. Get used to it.
Without the government stimulus we have no gain. Looking at the year over year percent change in personal real income we see a solid decline since July of last year. That's recessionary, plain and simple.
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Buy, buy, buy! It's the best opportunity in years.
Just ANOTHER "DUH" moment for Wall Street and the Bush Administration.
I don't know, the president seems to think it's all pretty funny though.
Laughing like a maniac
Why would anyone, with the money for a downpayment and an adequate credit score, being purchasing real estate with the existing market conditions. In most parts of the country, putting down 20% and getting an 80% mortgage, there's a good chance that by the time you closed escrow, you will have decreased your equity position by 5 to 10% and be in the position of ruining your credit. That's not good business sense.
Not all real estate markets are in the dead end mode you think. And not all real estate markets are declining. According to the April Case-Schiller report, Denver seems to have stabilized. As has Chicago, Dallas, Portland, Seattle, Boston and Charlotte, NC among others. Even in Cleveland, Ohio home prices are above January's. And those are just the major cities.
And with so many houses sitting empty, and with cash-strapped sellers, there are likely plenty of real bargains to be had now.
I prefer to wait and see...it's only one month's report and even Chip Case warned about taking those numbers as indicators of recovery. There are more rounds of mortgage rate adjustments coming up, credit is harder to be had, this is the selling/buying season, and many economists have extended the timeframe for RE market stabilization well into 2009 now.
And, for the record, NAR and their "economist" Lawrence Yun are liars whose motive is to sell, sell, sell and spin, spin, spin. They (and Yun's predecessor) are partly responsible for fueling the buying frenzy, knowing full well what was coming down the pike. It's outrageous that the media give their "reports" as much weight as those from Case-Shiller, Warren Group, et al. Unconscionable.
Yeah, plenty of bargains "to be had"......only if the buyers qualify for the loans. With millions and millions laid off from their jobs, there aren't as many qualified buyers as there used to be.
uhappytoo, you read that in a report. How long has the National Association of Realtors been encouraging people to continue buying houses during this disaster? Just sayin'.
At some point those who are worried about inflation, or want a bargain, will want to try and buy real estate near the bottom. It's figuring out when that's the problem.