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More Gloom n Doom = More Imminent Foreclosures

By
Real Estate Broker/Owner with Wendy Smith Real Estate

Gee whiz, more depressing news about the housing market - I first heard it earlier today on CNN and then read the article in the NY Times.  According to the latest statistics, home prices continue to decline and there doesn't seem to be an end in the near future. 

I haven't encountered any buyers willing to pay current fair market value and with the gloomy reports and predictions, no doubt their offers are bound to be even lower as they calculate the probable decline in value.    

A few days ago, another article in the NY Times suggested the decline in housing is in part responsible for the lower sales revenues for major department stores. 

I'm an optimist at heart but I must say, a person can tolerate only so much of constant doom n gloom before it starts getting to you. 

Could it be that all the negative publicity and news hype is adding fuel to the fire or maybe we are falling victim to a self-fulfilling prophecy?   

Posted by

Counting Blessings & Serving My Community,

Wendy Smith

 

 

Comments (1)

Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Wendy,

Great post - bringing facts to light. I think we're in a cycle like always and this cycle is down. Next one is up. Hang in there we'll be around for the inevitable up swing.

Mike Lewis

Oct 30, 2007 10:45 AM