Is The Recession Over?
Let’s hope so and according to Fed Chair Ben Bernanke it is although he cautioned “the pain will persist.” My thoughts are that this is going to be a housing and jobless recovery. I think you are starting to see signs of stabilization in the housing market especially in South Florida. It will all depend on what happens with foreclosures but the good news is that there are bidding wars going on.
No one, including Big Ben, can know for certain. The bottom line is to be smart with your money, don’t buy what you can’t afford, and put money away for a rainy day. We can’t control what the government or economy do but we can control what we do.