So you must have watched the debates last night.. The funny thing is you can’t really predict a recession until your already in it and you look back and say, “yes, that’s recession!” Things are absolutely looking that way though.With regards to the Real Estate Market. It’s not going to be how it was a couple of years ago for the upward of 8-10 years. If you are in need of the full equity amount now or in the near future, you should try to sell now! Many are trying to do just that. Unfortunately, we’re not going to see that much improvement for many years. Good Luck.
Maybe, but probably not. The term recession has an exact definition which is at least two consecutive quarters of negative growth. The GDP growth last quarter was 4.7% so it’s a good bet that the economy is not going to go from such solid growth to negative growth very quickly.I read recently that we are through the worst of the mortgage problem already.Lastly, 5% unemployment is low by any historical standards.Maybe I’m just an optimist.
Anonymous
January 6, 2008 at 2:24 pmSo you must have watched the debates last night.. The funny thing is you can’t really predict a recession until your already in it and you look back and say, “yes, that’s recession!” Things are absolutely looking that way though.With regards to the Real Estate Market. It’s not going to be how it was a couple of years ago for the upward of 8-10 years. If you are in need of the full equity amount now or in the near future, you should try to sell now! Many are trying to do just that. Unfortunately, we’re not going to see that much improvement for many years. Good Luck.
Tim
January 7, 2008 at 8:03 pmMaybe, but probably not. The term recession has an exact definition which is at least two consecutive quarters of negative growth. The GDP growth last quarter was 4.7% so it’s a good bet that the economy is not going to go from such solid growth to negative growth very quickly.I read recently that we are through the worst of the mortgage problem already.Lastly, 5% unemployment is low by any historical standards.Maybe I’m just an optimist.