Is the Sky Falling?
October 2, 2007 10:33 amFiled in Business Thought, Real Estate
After yesterday’s market surge, many were quick to say were are not in a recession, nor are we headed for one. Then, the pending home sales numbers were released, the lowest numbers in 6 years (Pending Home Sales Hit 6 year Low)!
On the way into work this morning, I was listening to CNBC. CNBC reporters were talking about how the market surged on Monday and what does it mean. Many people speculated that we are not in a recession and that Monday’s gains were an indication of that.
Basically, we have not hit the bottom of the housing slump, we have more to go. I have heard some predication’s are now out to 2010, others say 2008-2009. I feel like everyone is mimicking Chicken Little and running around talking about the sky falling.
What we should be doing is working to stimulate growth in the areas we can. This is a GREAT time to buy or invest in the real estate market. Just like investing in the stock market, buy when it is down.
Please leave your comments on what you think about the “sky is falling phenomenon.”
November 2nd, 2007 at 4:32 pm
Kim,
I agree that we go where our focus is…so now is a good time look for the opportunities in the real estate market. I don’t think the sky is falling, but it would be nice for the ‘real estate experts’ to recognize that we have a way to go before bottoming out. One significant reason is that we have yet to see the full extent of the ramifications from the sub-prime market, its effects on our financial institutions and ultimately on the free flow of cash. For investors with cash, they are in a position to take their time to look for sweet deals and I am sure there are plenty.
btw, nice web site and thoughts posted on this blog.