We’re going to take the liberty of pulling a few quotes from this recent New York Times article about President-elect Obama’s call to action and urge our fellow San Franciscans to go out and buy a house.
-‘I don’t believe it’s too late to change course, but it will be if we don’t take dramatic action as soon as possible,’ Mr. Obama plans to say, according to advance excerpts of the text released by his office. ‘If nothing is done, this recession could linger for years. The unemployment rate could reach double digits.’
-Mr. Obama’s message is stark, warning not just of short-term pain from a recession that is already the longest in a quarter-century, but also of deep and systemic longer-term costs that could threaten American economic leadership if too little is done.
‘We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future,’ Mr. Obama plans to say. ‘And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world.’
‘In short, a bad situation could become dramatically worse.’
-‘For every day we wait or point fingers or drag our feet, more Americans will lose their jobs,’ Mr. Obama plans to warn in his speech. ‘More families will lose their savings. More dreams will be deferred and denied.’
…and as one of our frequent commenters will surely say, “More 40 year old renters will become 41 year old renters, and rents keep going up!”
Take a stand. Buy a house!
[Editor's Note: There is sarcasm in our post. We understand it may not be a good time for you to buy, but it is a good time to be a buyer (assuming financial stability in your household).]