Happy Holidays
This picture really says it all. Discounted Christmas trees. I drove by this tree lot the other day and couldn’t believe they actually printed a banner like this.
Sure it may be a gimmick, but it certainly speaks volumes of the unprecedented crisis we’ve put ourselves into.
It’s been a very tough year as far as mortgage and housing are concerned, and obviously that has spilled over to the broader economy.
While mortgage rates have been forcefully pushed down to record lows, it’s unclear if such stimulation will actually prop up sagging home prices and generate sales, and who that would ultimately benefit.
The party needed to end eventually, and such an incredible high had to be greeted with an equally spectacular low, which unfortunately, has trapped many at a very inopportune time.
Negativity aside, the hope is that we can navigate through this crisis as we’ve done in the past, and ideally, learn something and make meaningful changes (and stick to them) to avoid such a disaster in the future.
Thanks to all who visit this site and I hope you all enjoy a safe and happy holiday season.
More to come in 2009!
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