It’s Friday, and yesterday the markets looked so bad, even the MSM was sounding bearish talking about deflating economy:
So how are Doomers sounding this morning? This is an open thread, so let us know what’s on your mind!
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What’s so bad about a correction from the absurd run up we experienced the last year. What’s so bad about business being forced to tweak its model. It appears to me our whole economy is is so corrupt. Big business, labor unions, financial institutions, congress. If the auto companies can’t compete welcome to the real world. I say beware of what you ask for.
Hello Austin, is anybody home? Sales are crashing and prices are rising. Haven’t seen this anywhere else, have we?
Most people are not waiting to buy because of future lower prices. A lot of people are out of work and have no money to buy.
Surak-
I also wonder how many folks are looking at their stock portfolio and 401K and are just thinking that the bigger house they were planning on just doesn’t make sense any more.
Then there’s the fear of falling prices. It’s not so much a matter of waiting for a deal as recognizing that you could end up underwater.
The bloom is off the rose for RE and it will be awhile before most folks are confident enough to buy again- whether they have money or not.
Twist,
I agree except with the massive unemployment, most people simple do not have the money.