Band Aid on a Gunshot wound...

By
Mortgage and Lending
I'ma keep it real everyone, WE ARE IN A RECESSION. There I said it and I don't regret it at all. The only way to healing is to first admit the truth.
Economic meltdown  has begun. The Federal Reserve as hard as they tried could not stop it from happening. The Mortgage Meltdown has kicked everyones behind.
So Now What?!?!?
First, I have to say that stimulus package as helpful as it was meant to be isn't really helping anyone.
The Hope Now Program should be called the Nope Now Program  from all the reviews I've read theres been no real resolution for homeowners. But of course we are all getting our rebate checks back soon, to stimulate the economy,
Its all a Band Aid on a Gunshot wound.
I don't mean to sound doom and gloom cause its not its all a cycle, but...
I'd love to hear AR Members thoughts on what they think about our current economic state and whether it will et better starting now or get worst first then get better?......

Comments (5)

Chuck Christensen
Your Financial Coach - Bellingham, WA
I have been saying it since January 1st....there is so much denial out their...your right...now all we can do is move on and deal with it...
Apr 10, 2008 02:09 PM
Peter Nikic
Broad & Bailey Realty LLC - Valhalla, NY

Ken,

Don't know if it will get worse or just stagnate. I think you're right. Like a gunshot wound, it will heal, but it'll take a while.

I've never known interest rates and prices to be down at the same time. That means that there's a problem. For people with cash, this is good. Unfortunately much of the country is strapped for cash. This could take 5 years, maybe 10 if we get a democrat president.

real estate is a long term investment. I'd be willing to bet that most people with long term goals aren't the ones who have the problems, but the flippers and the speculators.

Apr 10, 2008 02:10 PM
Nannette Turner
eXp Realty LLC - Lynchburg, VA
Online Marketing Home Ownership Advocate Specialis
Ken I think there is alot of denial out there.  I have to work very hard to make the same amount of money I did three or four years ago.  I don't think we have seen the bottom of the market yet.  I think it is going to be the end of the year or the beginning on next before we feel the difference.  There is more of the same to come, in my humble opinion.  We must persevere.
Apr 10, 2008 10:42 PM
Rosario Lewis
DDR Realty - Newburgh, NY
GRI, SRES - DDR Realty - Orange County, NY
The situation is really, really bad when $600.00 is hungrily anticipated as a financial windfall. Initially, I laughed out loud when $600.00 per taxpayer got enthusiastic promotion as a stimulus. I thought, "How much difference can $600.00 make?" Well, for a lot of people $600.00 is A LOT OF MONEY.
Apr 11, 2008 12:24 AM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT
Im with ya, brotha!  Preachin to the choir!!  Preachin to the choir!! 
Apr 11, 2008 12:26 AM