Do not fear friends and neighbors! Yes the indexes are lower, but when you examine the sales decreases--sub prime and jumbo loans, the rest of the market is OK. This means, if you have a job and if you can pay your mortgage, you are OK. According to the National Association of Realtors senior economist, abnormal factors are clouding the horizon. He states, "THERE ARE NO SERIOUS PROBLEMS FOR THE MAJORITY OF BUYERS WHO QUALIFY FOR CONVENTIONAL FINANCING OR FHA-INSURED LOANS."
Don't listen to the gloom and doom of the mass media. Yes, things are tight, but is this the end of the world? No. Have we been in this type of situation before? Yes.
Is competition for goods and services increasing world-wide? Yes. Is this the type of competitive atmosphere that we Americans thrive on? You bet! The best is yet to come!
Stat tuned............
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