I realize most of my blogs are filled with bad news, but what can I say, much of the news (concerning real estate) is not so good.
The Labor Dept released the latest figures on Fri: The jobless rate is 5 percent. This is an ominous sign that the economy could be heading for a recession.
This news certainly provides evidence of an economy very much strained by a housing slump and a credit crunch.
I've read that President Bush is exploring a possible tax cut as a remedy.
Perhaps the Fed will consider lowering interest rates once again??? It has announced that it will make available about $60 billion in loans to banks.
Manufacturers, construction firms, and financial services all cut jobs in Dec....more than likely casualties of the housing slump.
Good news, anyone?
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