Think twice and be patient! by Barbora Misakova

It is hard to say if crisis is over. But what we can say for sure is that people are doing their best to save every single penny, more than ever before. They are careful about their possession and their future investments. They want to think twice and if they cannot do that, they ask for advice. That is why independent financial advisers are kind of lucky these days. On the other hand, realtors are going through black days. Sales of U.S. homes took a record plunge in July. Stock markets fell nearly 1 percent on the data. As the National Association of Realtors reported, overall sales were at their lowest since it started the existing-home sales data series in 1999. Associat! ion chief economist Lawrence Yun said that sales have been the softest since 1995. According to Reuters the dismal sales report came shortly after Chicago Federal Reserve President Charles Evans warned of the risk of double-dip recession which was according to him higher than before. And even though I have nothing against real estate brokers, I have to agree with what Evans said about “the already faltering wider economic recovery” which would be undermined by housing market. But how to buy a house or flat when there is no money you can use for that? How to borrow money, when there is no job you can do? And last but not least, how to find a job, when there is such a high unemployment rate? This is common circle and it is not only America who has problem with it. All we have to do now is to realize, that the recovery which started in the second half of 2009 has largely been driven by government stimulus. And it will take a long time till we can “work”! and live as we used to before. And it goes for realtors as we! ll.
< br>related story (sgx18057): http://www.france24.com/en/20100824-usa-housing-sales-lowest...

by Barbora Misakova for Cantell TV (http://cantell.tv)

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