Quote:
Originally Posted by Elephant Walk
As the Dow is up more than 2% today.
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Well, it's definitely the time to buy for those with the resources to do so.
I'm actually in agreement that things aren't as dire as some of the media makes it out to be, the sensationalism, of course, drives revenue for them. But it also unfortunately affects the mindset of average Americans who believe the economy is irreversably circling the drain and that's not good for anybody.
Every month since February or so, I've seen headlines that sales of homes "unexpectedly" rose -- that's a GOOD thing. But then there's the quick follow-up line that "but prices are down". Well, yes, but that's because prices were so insanely over-inflated 3-5 years ago, they're settling back to where they should have been all along. Some people, unfortunately, ended up upside-down in their houses in the meantime and they and all the fly-by-night mortgage companies that sprang up are paying the price. But if home sales are up, that means the market is moving, that's a good thing, let's let everyone get some positive news for once. People are more likely to spend when they have some confidence in things, we do need the positive messages to come down from the top to keep people sane (while they're pulling up to pay $4/gallon at the pump).