December 30th, 2008
Extremely Cold – Winter Blues
Christmas has come and gone and the new year fails to bring hope to the faltering real estates market. Jobs are expected to be shed, even from some of the largest global firms as the global economy slips deeper into recession. The weather is also playing its part in making this one of the coldest winters of all time (except for the Ice Age maybe) aggravating the despair of people who have lost homes due to unpaid mortgages leading to foreclosure.
These foreclosed homes, though recovered by financiers and lending companies, cannot be turned back into cash to re-inject into the system causing it to seize up. More houses to sell, still not enough buyers, not good for an industry that relies on public spending for their income.
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