Posts Tagged ‘economy’

It’s getting ugly out there. The sentiment has definitely turned for the worse. Economists and housing pundits that predicted a bottom for mid 2008 have changed their tune and are now saying that the housing downturn could last all the way until 2010. Countrywide teetered on bankruptcy, saved at the last moment by Bank of America.

With the suprising rise in the joblessness statistics in December, the “R” word is now popping up. The stock market is not off to a good start in 2008. And most telling, “it’s the economy stupid” has shifted the presidential campaign from Iraq to a domestic economic focus. I’ve looked through a lot of reader comments on news articles on housing and real estate, and they are resoundingly negative.

The problem with mass media, is that it is homogeneous, it all is mostly one voice, and that voice is pessimistic. Is it really an accurate reflection of what’s happenning out there? What do you think? Are you hopeful for 2008? Or is your thinking just an echo of what is being published?

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