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What's the word on the street about the economy? Maybe it's not as good as we hoped.

By Richard Weisser

Real Estate Broker/Owner with Richard Weisser Realty

July 10, 2009 11:57 PM

I hosted my monthly card group at the house last night. I have been playing with this same gaggle of gents for about fifteen years now, every second Friday of the month.

After such a long period of interaction, you really get to know each other. And I'm not talking about how they play cards; I'm talking about their lives, their jobs, their families and most of all, their observations about what's going on in the world.

Opinions flow as freely as the beverages, and the discussion eventually turns to the typical political pugilism that one would expect from a diverse group. However, last night, he overall tenor of the conversation was different.

There was very little optimism about the economy and the future from any sector of political persuasion. The normal sparring and banter was overshadowed by commiseration. There was an overriding aura of despair that could not be dispelled by even the wittiest quip or aspersion.

And what was most unusual was that there were no solutions offered. Nobody has any idea as to what needs to be done to put the country back on course.

Although not random, I would say that my little group is a fair sample of the population. And my unscientific poll indicates that citizen confidence is eroding and waning month by month.

It's really something to think about.

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Andrea Swiedler

Berkshire Hathaway HomeServices New England Properties - New Milford, CT

Realtor, Southern Litchfield County CT

Richard, I am with Michael, I cannot let myself feel that way. I could so easily fall into such despair, and forget that. I have no solution, and to be honest, I would rather go back in time and talk to that damn bear... :D

We are where we are. Our own small confidences will make small differences which in turn will ripple out.

Hows that? That is the best I can do.

Jul 11, 2009 12:38 AM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Richard I choose not to buy into a recession. I just don't. That doens't mean things are back to 'normal' but it does mean I am grateful for all that is going on - which by last years standards - is a bunch. We keep postive and upbeat and grateful. It was interesting - we had dinner with some clients/friends at a great restaruant in Scottsdale last night. We all talked about what was going on AND we noticed the place was packed - with people waiting to get it. If things were so bad that wouldn't be happening here (maybe they are elsewhere).

Grateful and Blessed!

Jul 11, 2009 12:51 AM

Richard Weisser

Richard Weisser Realty - Newnan, GA

Richard Weisser Retired Real Estate Professional

Gail...

The only medicine I need is some stability. But I think that all of the "fixes" that are taking place will adversely affect us for the rest of our lives. Thanks, as always!

Steve...

It really is, we must muddle through somehow. Thanks for the comment.

Andrea...

I will think of bears ... they are beautiful animals! BTW did I mention that I have two brothers that live in CT?

Jul 11, 2009 12:54 AM

David Henke

Long & Foster Real Estate, Inc - Newtown Square, PA

Realtor, Homes Just West of Philadelphia PA

It's the vision thing. Today Washington has none. Agree or disagree, our last few presidents knew where they wanted to lead the country. This administration doesn't want to lead anything, it only wants control: the economy, the people, health care, corporate America, and whatever - Washington knows best. We need the vision thing.

Jul 11, 2009 01:19 AM

Mike Saunders

Retired - Athens, GA

Richard - but I do believe the president said we were right on track with stimulus

Jul 11, 2009 01:27 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Morning Richard, I was thinking that your group was a mirror of the larger population ( and then you daid : "...my little group is a fair sample of the population..." . Lots of real concern and it weighs on people. Good observation about no real solutions being offered. Lets hope Obama can get us back on track. We did,'t get here in a hurry and we won't get out quickly enough.

Jul 11, 2009 01:35 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

I am not surprised about the lack of confidence, as I see that here also. But, around here everyone seams to have an idea. Most of it is stop giving the big companies all this money and give it to the people who will spend it and put people back to work.

When you build a tall building, you don't start at the top.

Jul 11, 2009 01:56 AM

Brian Griffis

Realty Choice - Springfield, MO

Reality check! We are still in better shape than 90% of the world. Like one poster mentioned, look around, people are still going to fancy restaurants, still buying houses, still buying crap they don't need (me included). How can we be so doom and gloomish? As to solutions, it isn't rocket science, although that would help. We have sold off a large chunk of our industrial base to China and taken their loans to fund our borrowing. We need to get back to making things in America (I know we are still the world leader, I just mean we are weaker than before) , not just borrowing and spending. We see where that has gotten us. Information work is great when the economy is good, but when the economy is bad, those are the first jobs to go and be outsourced (look at Wall St.). We need to start actually producing more real products in America and keeping our dollars in this country.

Jul 11, 2009 02:03 AM

Tom Boos

Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

Providing the very best of service to Sellers and

Few people today have "warm and fuzzy" feelings with regard to the economy, especially those in midlife. We've seen our investments shrivel and our home equity dry-up. But, for young people, who have their whole lives before them, it's a great time to be starting-out. They should educate themselves, control credit, save money, buy a house and start investing for the long term. I have a lot of hope for the future, for my children and grandchildren.

Jul 11, 2009 03:07 AM

Wanda Kubat-Nerdin - Wanda Can!

Red Rock Real Estate (435) 632-9374 - St. George, UT

St. George Utah Area Residential Sales Agent

Richard, For me, it's about looking beyond today toward tomorrow and not getting caught up with all the gloom and doom that is out there. I know it's there but I won't answer the door when it comes knocking.

Jul 11, 2009 03:51 AM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Richard: I come to you for a little pick me up and this is what you give me! :) Now you'll have to keep us posted on what the card group thinks next month. Will they be as pessimistic? I certainly hope not.

Jul 11, 2009 07:51 AM

Denise OnullDell

Santa Clarita Mobile Notary - Santa Clarita, CA

Mobile Notary Public/Real Estate Agent

I have to agree with Brian Griffis on this one. I just read an article about the rest of the world being worst off than we are... so things really aren't so bad.

Jul 11, 2009 09:36 AM

April Hayden-Munson

Brookfield, WI

Brookfield Wisconsin Real Estate

Richard, we need jobs. Good jobs, not mickey D's flippin' burgers. The internet changed our world. How many jobs are now overseas to the other countries that people work for $2 an hour? THat's the future here if we don't start MAKING something..... a bit scary at that!

Jul 11, 2009 12:47 PM

Richard Weisser

Richard Weisser Realty - Newnan, GA

Richard Weisser Retired Real Estate Professional

Anna...

Good for you. The point that I was trying to make is that regardless of how WE feel. the public believes that it is bad ... and THAT affects our business. Thanks for the comment.

David...

This is a problem that is going to require a grass roots effort to solve. If we wait on Washington this recession will be with us a long time!

Mike...

Meet the new boss .... THX my friend.

Jul 11, 2009 02:43 PM

Terry & Bonnie Westbrook

Westbrook Realty Broker-Owner - Grand Rapids, MI

Westbrook Realty - Grand Rapids Forest Hills MI Re

I guess we will see how GM and Chrysler do and if a bit of good news surfaces it might change the attitude in a couple of months.

Jul 11, 2009 03:09 PM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Richard. I agree.

The stock market has rallied a couple thousand points. But what has really changed.

It will be interesting...

Ken

Jul 11, 2009 03:12 PM

Dorie Dillard Austin TX

Coldwell Banker Realty ~ 512.750.6899 - Austin, TX

NW Austin ~ Canyon Creek and Spicewood/Balcones

Richard,

I like Ana refuse to buy into the recession and I have to admit my business has never been better and continues strong. However I agree with your point regardless of how I feel the public does believe it is bad and that can affect our business. I try and talk with lots of people everyday and show them we are doing okay in Austin. Sale prices of homes have come down but nothing like elsewhere. A seller can sell (for a lower price than 2007) and get out of his house with $$. In our community there has only been 1 foreclosure in 2 years. If you bought in 2007 you could have a problem as our values increased a lot this year. Regardless I appreciate your post. We do have to remember there are many listening to the news media and are experiencing stress over the ability to keep their jobs etc. and that does affect us.

Jul 12, 2009 12:43 AM

Susan Haughton

Long and Foster REALTORS (703) 470-4545 - Alexandria, VA

Susan & Mindy Team...Honesty. Integrity. Results.

I have wondered lately how much of the malaise is psychological, rather than based on anything directly happening to someone. In other words, we have not been directly affected at all, so far...well, okay, we are not going to talk about 401Ks, are we...our respective businesses are going very well and life is as good as it has ever been. We went out to dinner Friday night with friends, didn't think we would find a restaurant without a looooong line, but eventually we got in somewhere.

People were out, streets were full, as were restaurants and businesses. It certainly didn't feel like a recession. Yet, that seems to be the topic of conversation for almost everyone, even when they aren't feeling it directly.

I think for many people, it is the expectation things are going to get a lot worse that is dampening their spirits, causing them to be careful in their spending habits, which, in turn, depresses retail sales and affects consumer confidence. A lot of the gloom and doom is driven by the media and by our own fears.

Jul 12, 2009 02:14 AM

JL Boney, III

Coldwell Banker - Columbia, SC

Columbia, SC Real Estate

I think there are still a lot of people out there who are scratching their heads and wondering what tomorrow will hold. The fact of the matter is that none of us really know, but we can hope that someone else does. So far, I don't think that the experts have truly come up with a solution.

Jul 13, 2009 09:08 AM

Brian Griffis

Realty Choice - Springfield, MO

There is a solution JL, but it will never happen. We are very lucky to be rich and happy just the way we are, so we are unwilling to do what it would take to improve the quality of life for future generations. Let's face it, we all know what to eat that is bad and good, yet people continue to eat more and more bad food. McDonald's earnings are way up this year. The same is true with every other aspect of our lives. We know what to do as a country to improve the quality of life for all, but no political leader has the guts to enunciate it.

Jul 14, 2009 09:01 AM