Are you worried? When you drive down the street and you see abandoned houses with those all too familiar “signs” posted on the garage, what are your thoughts? If 1 in 6 homeowners are facing foreclosure, then that means 2 of the houses on my street are facing a dismal future. Not only that, but 2 of my neighbors are about to be hit with life changing events that perhaps they never saw coming (if they haven’t already).
While out walking the dogs earlier this evening, I stopped to talk to some friendly folks in the neighborhood. Of course, the subject of the economy always comes up – just because it’s on everyone’s mind. The same questions are asked –
Are we near the bottom of the market?
Will we be able to recover?
How has the economic slowdown affected your job?
Do you have a back up plan?
Interesting, really. These questions don’t seem to be exclusive of a particular generation. People in their twenties are asking, as well as empty nesters. Those that seem particularly hardest hit in my neighborhood are those within 10+ years of retirement. Those who had a 401K last month, now have a 1K to retire on.
Sometimes, I wonder if I’m overly optimistic or just plain naive. Do I understand that depth of what is happening or are market reports inflated?
What are you thoughts? Are you worried? Scared? Optimistic?