Image via WikipediaIt has been whispered for most of the last year. A thing nobody, except maybe the current administration, wanted to consider. A second, longer, and deeper downturn in the economy. The housing market has now officially been declared as being in a double-dip recession. The question now is whether this will now begin to spread to the financial markets , and then the manufacturing and retail sectors. The word "depression" is now starting to be used. How's the hope and change working out for you now?
I work in the manufacturing sector, and regardless of what this adminstration and the media is reporting, the numbers are beyond dismal. They suck. Furloughs are back in an attempt to save jobs. Inventories are increasing, and sales are decreasing.
Folks, hang on to your ass for at least the next 18 months.
Double-Dip Housing Recession Confirmed
S&P's Case-Shiller home price index drops in 19 of 20 metro areas. Only Washington D.C. escaped housing value drop year-over-year.
By Jason Knott
May 31, 2011
There is more discouraging news for integrators looking for the housing market to bounce back.
Housing prices in the U.S. fell in March for the eighth consecutive month, and one key index has officially declared a "double-dip" housing recession.
READ MORE HERE---> http://www.cepro.com/article/double_dip_housing_recession_confirmed/
