Dark Clouds Ahead?
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Are we going to double dip into another recession? If you have been watching the news it does seem a bit gloomy. The unemployment rate is still rising, it's what we keep hearing, that rising number. Plus, the never ending frustration of the Gulf oil spill disaster is just non stop. The ongoing failure of this has been the main coverage for the media, it makes me cringe. Plus the stock market plummets, Afghanistan, this is just destroying our consumer confidence.
Former Federal Reserve chairman Alan Greenspan feels the U.S. economy is undergoing what he calls "a typical pause" that is being triggered by the European national debt issues and their impact on economic global recovery. Meanwhile, in real estate home sales, pending and closed home sales are off by 30 Percent. Really, this is just because of the federal tax credit program coming to an end. This was predicted by many housing analysts and it's no huge surprise in my book.
Not all numbers are bad, home prices nationwide are 4 percent compared to last year! Higher in metropolitan areas like Los Angles and Boston. Numbers, numbers, numbers... You can't argue with them.
For more information regarding Today's Current Real Estate Market or if you are interested in buying or selling a piece of Real Estate, please call or email me at:
Direct: 925-330-3878
Email: stevepoirier@pacbell.net
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