Posts Tagged ‘recession’

The new year, out with the old, in with the new!  Many people are glad to see 2008 go.  It was the year where a bad housing market turned into a freefall rout.  Where many lost their jobs.   So you can’t blame folks for having a lot of hope for a 2009 that is better than 2008.

With the new year comes economic outlooks and predictions.  I recently listened to an interview with Harry S. Dent, an economist known for accurately predicting the Japanese decade long recession, and the DOW hitting 10K, back in the 80s.  According to Harry Dent, we are just in the beginnings of another great depression.   While 2009 might see a short lived rally in the stock and housing market, overall we are in for several more bad years according to Dent.

Harry Dent will be speaking at Wealth Summit Live, an event in Orlando on January 24th and 25th, featuring a number of well known speakers geared towards helping people succeed despite the dour economy.

If you invest in real estate, I would recommend listening to the interview with Dent.  Even if you don’t completely agree with him, his knowledge of trends and how they impact the economy is a message any investor should listen to.  You can access the interview for no cost by registering at the Wealth Summit Live site.   Maybe I will see you in Orlando!

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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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