- Failed Short Sales Exacerbate Foreclosure Losses For All [Housing ... - Seeking Alpha
- Central banks fire new rounds to break bank lending logjam - AFP
- The sky isn't falling, so it's no time for Ottawa to overreact - Globe and Mail
- From subprime to stock swoon - Globe and Mail
- Victorville California: A desert boom town goes bust - guardian.co.uk
- Michigan to combat claims of possible suppression of voters - Detroit Free Press
- Financial Meltdown 101 - AlterNet
- Looking for the right time to buy a house - Shreveport Times
- What it means: Words that define the downturn - Houston Chronicle
- Corzine: Jersey may buy homes to stop foreclosure - The Star-Ledger - NJ.com
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As you can see from the subject about this article, it’s about the so-called elephant in the room…the economy, and the dreaded ‘R’ word (Recession). Economists are arguing over technicalities. The news media has had us deep in a recession for months. People do seem troubled by gas and grocery prices.
Some of you may be wondering about the title and what exactly is meant by “The elephant in the room”? The expression is most often used in sales and the elephant is the big objection that is in the customers mind. Nobody is speaking about it… but the elephant is definitely in the room and on people’s minds. (For real estate investors the elephant in the room is how do I sell my house.)
Right now that elephant is the economy and the so called media created Recession we are experiencing. Do I buy the so called recession? Not for one minute. Are people hurting financially? Of course, but there are always people hurting financially! In fact most people live beyond their means and spend more than they make so any “bump” in the economy becomes a mountain.
I just came back from hiking the Grand Canyon and the permits for the campground were oversold for the entire month of June! Realize where I go is a 6 hour drive to a parking lot in the middle of nowhere, you then hike 11 miles in to a campground that has no electricity or running water, and you have to pack everything in and out on your back with a pack. Oversold for the month of June and June is the HOT season when most people do not want to go. Where’s the recession?
And with my family in town for the weekend we went out to Joes Real Barbeque on Friday and The Good Egg on Saturday and both places were packed with HUGE lines and waiting lists to be seated.
The question really becomes “What are you going to believe?”
Do you want to let the news and media do the thinking for you and simply believe what you are told or do you have your own brain that is capable of thought and drawing your own conclusions?
As for me, I’ll believe there is a recession when the grocery shelves are empty and there are long lines to get into the grocery stores to get the basic necessities like food!
Now Go Buy A House!
Gerald Romine
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