2/28/08

The Freak Out

Unless you've been hiding under a rock you've heard the media screeching about the housing crisis and the looming recession.

Personally, I think the media is trying to get ratings and are playing chicken little. Most people don't even know what a recession is, other than it's baaaaad. Surprisingly CNN, has a interesting article explaining it. In a nut shell it's 6 consecutive months or two quarters with negative growth. Has it happened? Nope. But according to the media--it's already HERE!! And the more they talk and the more they scare, the more likely it WILL happen.

Now, onto the housing crisis. Remember talk about a real estate bubble? Remember how it was known that most cities had over inflated housing costs...to the point where average people couldn't afford an average house because they were too expensive? I am sure a lot of the bad loans came about from people trying to buy homes in that over inflated market. Now that the real estate market bubble burst...NO ONE talks about it. They act like the decline in home values just came out of the blue and is a sign of the recession. Could it be that finally the real estate market is stabilising back to where it's supposed to? Why did ANY ONE think it was healthy real estate market when the average family making an average wage couldn't afford an average house!

I am not staying we ought not to be concerned, but it's no need to freak out and blame Bush (because y'all he's not the King or God--he doesn't have ultimate power for ANYTHING in this country).

Off my soap box.

Labels: daily rant, politics

9:04:00 AM -- Email -- Link -- 1 Comments

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1 Comments:

THANK YOU !!!!!!

MOM

By  Anonymous, at 3:17 PM  

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