After a year plus of brutal reporting on the demise of the Real Estate Industry, the news media has moved on to another whipping boy, the looming recession, and again, they are late in their reporting.
RECESSION HAS BEEN HERE SINCE MID-2007! Based on historical data used to measure whether we are in a recession, the official announcement comes nearly two quarters after the recession actually begins. Economists are a bit anal, for fear of being wrong.(That is a normal fear, for the rest of us, they just expect themselves to be above it.) More than 50% of economist's predictions are wrong, over 50% of the time. Not to mention most of the 'historical data' is based on pre-global economy data. We have been in a recession, we will come out of it by the end of 2008.
This inept, 'Johnny-come-lately' reporting, and the presidential campaign coverage has allowed the Real Estate industry to experience it's annual rite of spring, increased activity in sales! We thank the media for this reprieve.
The Southeastern Wisconsin Real Estate Market will bottom out in the next few months. We won't see a rebound, but prices will stop declining. It is a good time to buy in Southeastern Wisconsin!
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