Saturday, April 11, 2009

Hard Times

Recent weeks in Raleigh, NC the real estate market has picked up. I have been staying pretty busy but still doing only a little over half from last year. I hate to say though that the influx of governments money (our tax dollars) will only be short lived and is just a band aid on a mortal wound. The layoff's are still continuing and some large companies are on there second to third round of layoffs. This will only add more foreclosed homes into the market that is already overwhelmed.

The government will not to be able to spend there way out of this road to disaster and it's going to be a few years before turning around. We have not hit bottom. I believe 09 will be worse then 08.
I believe you should start saving for these hard times and I personally am not contributing to my retirement account this year. I have lost over half mu retirement and I don't believe the market is going to get better in the short run. I might as well throw the money out the window then put it in the market right now.I don't want to sound like doom and gloom but we need to face that we are in for a hard correction.

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