do you think the econ is improving?

[lovegem]

Date: 5/1/2009 9:32:58 PM
Author: TravelingGal
Nope, wishful thinking though.


My realtor has been saying how she''s happy the housing market is coming back on track. I hate to burst her bubble but it''s SPRING. Traditionally the busier selling season. It''s going to be a little blip and then come down again for fall/winter. That season will be absolutely key in telling what is going to happen for next year.

Absolutely agree. It just so happened that I was looking up some condo price in our area. The price has dropped further. Some of the condos dropped more than 15% to attract buyers.

We are currently renting an apartment. When we moved here last year, it was a hot hot location. Rent was high but occupancy was full. Ever since end of last year, occupancy starts to go down. We have 3 vacant apts on our floor for more than 4 months already (it is a 23 stories apartment building). The management has to lower the rent (not sure how much, just over heard them talking), but still no bite.

 

[bee*]

Date: 5/1/2009 6:40:52 PM
Author: Steel
No I don''t think it is improving.

ditto.

 

[D&T]

No, Not anytime soon. I work for a private commercial properties in accounting/financing our tenants our struggling from 98% occupied to 80 ish% occupancy rate. and we''ve brought down rents to help many. I feel fortunate and somewhat feel that I''ve gotten a raise through all this.. I still have my job, the price of oil has dropped so communuting isn''t as bad and I work slightly from home, hubby still has a job but if he had to be axed then we''re still ok, as I am the bread winner for at least a little while longer. Residential is still uncerntain and I feel that it has yet to hit bottom. I disagree with the way spending has occurred in this country but thats another topic. My boss/owner is so gracious to keep all the employees, as he could easily cut a couple of jobs but won''t. Anyhow as far as bling.. I still have some fun money....hey trying to help consumer spending

anyway I can.

 

[steph72276]

Here''s the thing....I kind of agree with Lucky when she says the media have an affect on people. Most of us are not hurting that badly. Yes, there are some places that are feeling it a whole lot more than others, and there are lots of people out there hurting. But still over 90% of people that want to work, are working. And most people are not foreclosing on their homes. Most of us can still afford basic needs plus some. And credit is not frozen. There are millions of people out there buying homes, cars, etc. Are the banks more stringent? Absolutely. And they should be. People are no longer able to buy houses for 5 and 6 times there annual salary with no money down....that is a good thing. People are stopping to think, "hmmm, maybe I can''t afford that $40k BMW on my $25k a year salary". Again, all good things. I think that housing will lead us out of this. As less and less new construction is going up, there will be less inventory, so then existing housing prices will begin to rise. Will it take some time, of course. And I hope when we are all back to good times, we remember these lessons and stop spending beyond our means.

 

[Shoopy]

I ditto all of the no-s.

I happen to work in an industry where the worst the economy is, the better revenues are so we haven''t experienced any losses. However, cost of sales has increased dramatically and its forcing our bottom line to be less in comparison to previous quarters or years.

I''m hopeful its going to get better though.

 

[tigian]

Date: 5/2/2009 10:10:27 AM
Author: steph72276
Here''s the thing....I kind of agree with Lucky when she says the media have an affect on people. Most of us are not hurting that badly. Yes, there are some places that are feeling it a whole lot more than others, and there are lots of people out there hurting. But still over 90% of people that want to work, are working. And most people are not foreclosing on their homes. Most of us can still afford basic needs plus some. And credit is not frozen. There are millions of people out there buying homes, cars, etc. Are the banks more stringent? Absolutely. And they should be. People are no longer able to buy houses for 5 and 6 times there annual salary with no money down....that is a good thing. People are stopping to think, ''hmmm, maybe I can''t afford that $40k BMW on my $25k a year salary''. Again, all good things. I think that housing will lead us out of this. As less and less new construction is going up, there will be less inventory, so then existing housing prices will begin to rise. Will it take some time, of course. And I hope when we are all back to good times, we remember these lessons and stop spending beyond our means.

I couldn''t agree more. I really, really hope we remember and when the economy does improve, I hope we are smarter as a whole.

 

[Diamond*Dana]

I don''t think so, but I am still very hopeful that it will get better soon!