Good morning! I was just thinking about the state of our economy and the worldwide economy for that matter. Today the Dow Jones Industrial Average is down over 400 points and broke the 10,000 point barrier for the first time in a while. Obviously, the $700 billion governement bailout did very little to assuage the public's fears.
It appears we're in for a bumpy ride. Credit remains tight and corporations are laying off workers. Still, I think it's important that we hang in there and support each other. We may have further bad news before things get better, but eventually they will. And those of us who stick it out will be handsomely rewarded.
My prediction? Expect a slow rest of the year and possibly into the first half of next year. We're going to have to get used to a new President and it's obvious the banks need time to solve their ills. I still believe that next Spring or Summer will reward us in the real estate business. I'm hearing good news in certain parts of the country (think Los Angeles and Las Vegas) as far as home sales go. Statistically we've been down for close to 2 years now and an upward trend is just around the corner. Will it be a big move up? No, but we will welcome the uptick. For those of us left, there will be numerous opportunites as the playing field has diminished greatly.
So hang in there! Let's all encourage each other to keep going. After all, an acquaintance of mind mentioned over a year ago that "people are always buying and selling real estate. So true. Have a great and prosperous day today!
Paul
Paul McFadden
We MUST stay positive because we know the media won't!!!!!!!!!!!!!
I agree. Hang in there. It will get better. We still have listings and we still have buyers. I've had enough of the gloom and doom.
Take care.
Thanks Paul, I couldn't agree more. Though I certainly don't blame the media for what's going on.
Gabe: Thank you. I appreciate it. Good luck to you!
Cindy: I appreciate your sentiments. I'm also ready for positive results1
Lewis: The media reports stuff of interest. Unfortunately I guess we all like sensational news these days!
Have a great week!
Paul
Paul, my main man!
Great post, very encouraging. We all need it!
Bo
Paul - I completely agree. We just need to weather the storm. Great success awaits those left standing.
Paul, thank you for the encouragement. It clearly is getting worse before it gets better. That being said, there is always a light at the end of the tunnel and there is always HOPE! :-)
Thanks, Sarah. I appreciate your positive attitude.
Karl: I plan on being one of those! Take care.
Bo: Thank you. Actually you're the man. Have a great day!
Paul
All you can do is focus on the things you got to do to prepare for the future. Use this time to make a dent in the market and your relationships.
Paul: I think you're correct about when this thing will turn around. There's lot of chicken littles in the media. A some point what's happening will become old news and they'll move on to the next hot issue. Then we'll start heading back to normal.
Thanks, Keith. That's what all of us are trying to do. Have a great day!
John: Thank you. It may take a while to get back to normal but we will. Take care.
Paul