When is the Bottom, really the Bottom?
Oct.30, 2008 in
theFrontSteps
These days, when I am in my office, each corner I turn, each webpage I look at, each blog, each of my peers. . .it’s all the same. Doom and gloom, declining property values, steep increase/decrease in the markets, suspended construction, and utter fear. I get it, I really do, and I too am afraid.
So I throw out the question; When will we hit bottom? Are we close?
Stimulus packages sound good, but will they help? When will we get back to normal?
What can we do to help?
October 30th, 2008 at 5:20 pm
The bottom is when people get fired in droves. Expect that in the next 6 months.
Biggest irony is that many of the ones getting fired are renters, as renters in generally are lower class, and therefore less successful. They are the transients that hold the junior positions that get blown out.
Just the reality of it all. There are 40 year old renters out there for example who still can’t find a girlfriend!
October 31st, 2008 at 11:48 am
I’d say far less than half way. Spread over 6 – 90 months dependent on which plate stops spinning and when. For example, “unfunded obligations for Medicare and Social Security alone totaled almost $41 trillion. That sum, equivalent to $352,000 per U.S. household”
David M. Walker, former U.S. Comptroller General (http://www.informationclearinghouse.info/article21130.htm)
Strap on your boots, it’s going to be a bumpy ride!
October 31st, 2008 at 12:39 pm
Medicare and Social Security as r.e. drivers?