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It looks like Recession... It sounds like Recession... But is it here YET???

It looks like Recession... It sounds like Recession... But is it here YET???

Despite all the negative news and economical statistics it is still an unclear question about Recession. In many economists specialists it is still in debate if the economy data meets the criteria of Recession or not! It is also very much an interpretation of local economy and financial indicators...

The truth is that economists are still in dilemma of recognizing the facts on hand. How soon is to soon to trigger the gun and call the economy in a Recession mood?... Some are still afraid that by recognizing that we are currently in Recession may trigger panic and more confusion... Whatever it is the economy doesn't look good and it looks like in spite of all efforts to correct the economical situation we are heading in the uncertain future.

An interesting analyze of the current economic situation By Barbara Hagenbaugh, USA TODAY: http://www.usatoday.com/money/economy/2008-03-04-local-differences_N.htm

Looking at the States more affected by the ecomical melt down... California, Nevada, Arizona, Florida... States where the Real Estate market was booming only few years ago and today are the front runner of market melt down.

The percent of negative equity is simply stunning as well:
Percent negative equity of those underwater:

California: 27%
Florida: 29%
Arizona: 29%
Nevada: 48%

Posted by Arina S. Hanciulescu on 11/21/2008 12:25 PM

Comments (8)

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8 Comments on It looks like Recession... It sounds like Recession... But is it here YET???

NOV

love the map - thanks

I like that map, can I steal it? I think there may be a little too much green on it though.

I have actually heard the R word used last month, it takes a few quarters of negative economic data to prove a recession, and I believe the national numbers confirm it now.

If it sounds like a duck, walks like a duck, and smells like a duck... then its a goose!

Recession or not, we certainly need to look for the opportunities that such markets bring... such as the ability assist in the sell off of the extremely low priced inventory. I just handed the keys two hours ago to a man who thought he'd never own a home. Now he has 2,400 square feet for $130k. He's paying far less than his rent on a much smaller home.

Arina, I think we've been in a Recession at least nine months, but by "technical" definition not true. It is a Depression if someone has lost their own individual job. Cycles bring opportunities to many.

NOV

It is here - clearly.

Mounting job losses, declining GDP, declining consumer spending, and a housing depression that has been going on for two years.

The data will shows that we entered a negative GDP in the 3rd quarter and the 4th quarter numbers will be much of the same, probably worse. :)

Where is that map located? I clicked the link and it's not there. I would love to link to that page on my website. Also, I noticed the map no longer appears in this blog. I noticed when I tried to copy and paste it to see how the code worked, it said it was an embedded flash script, and I've noticed that any kind of script I have posted quickly is disabled here on Active Rain.

I still have the window open with the map in it from earlier, and was trying to find the loaction of that map through the link provided, but it was not at that link.

Thanks in advance if you can tell me where it is located!

Greg

DEC

I see the smart people are now telling us we've been in a recession for a full year now. I hope their quicker in telling us when we're in an expansion. :-)

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