Juicy Estates: Mortgage Blog

Recession – Calling A Bottom

It is worth noting that there have been six major recessions since the Great Depression; three of them lasted one year and three of them lasted two years.  The most recent economic data indicates that the current recession will most likely last a couple of years.  This recession officially began in December of 2007 which would put us at the half way point right in the middle of the road.

That being said with the massive amount of economic stimulus that will be pouring into our economy shortly after January 20th (inauguration Day) coupled with the trillions of dollars the major industrialized nations will collectively be pouring into the global market place in the coming months, it is almost certain that our domestic economic picture will be considerably improved by this time next year.

A lot of fence sitters are trying to time the bottom of both the real estate and stock markets and of course as I have written before you don’t know it’s the bottom until it’s to late.  I think one could make the argument that we are about half way through the recession and speculate that more jobs will be created in the coming months.  These factors in conjunction with historically low interest rates and “reasonable” underwriting guidelines make it a very good time to be buying a Luxury home in South Florida.

“The smart money is buying now!”

This entry was posted on Wednesday, December 10th, 2008 at 11:11 pm and is filed under Home, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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