So the expected fallout from the housing market, the financial market turmoil, and tightening credit shows in the trailing indicator as of today. But since we've been posting in this forum, it's no surprise.
Recession is a good and necessary thing. It refocuses priorities, clears out bad investments, and reopens people's eyes to a more realistic world view.
In addition, for those who are sitting on the sidelines with cash, lowering prices are going to improve the leverage and value of investment dollars.
Save now, watch prices fall further, and look for signs the economy is rebounding. This fall? No way. Might be next year, but this could be a multi-year correction, especially with a lame duck presidency and likely transition to a new party.
http://money.cnn.com/2007/08/28/news/economy/confidence/?postversion=2007082811
US house prices tumble at record rate
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/28/bcnusa128.xml
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