The Real Estate Depression of 2007

The Real Estate Depression of 2007

In economics, recessions are sometimes defined as periods of economic contraction marked by an extended decline in general business activity, typically two consecutive quarters of falling real gross national product.

It can safely be said that at the beginning of 2006 America entered into a real estate recession and despite all rhetorical pumping and dumping of real estate inventory by mortgage bankers, brokers, Realtors, agents, builders and developers, the statistics show that we are now at the beginning of a long and protracted real estate depression.

Anyone capable of doing math and adding two plus two could see that a real estate recession was coming back at the tail end of 2005 when numerous savvy writers began to publish statistics stating their concerns about the oft repeated concept of a “real estate bubble”. Unfortunately if your job, your income, your net worth, your assets and your life are totally dependent upon the real estate market two things may happen to you.

What is your opinion about the real estate market now? Please leave us your comment about the article.