In a surprise announcement, the government said house purchases shot up 6 percent last month. Most of these are bank repos that sold out thirty or forth percent less than values last summer. We’ll be out of this recession soon!
Never mind. We must first rid ourselves of housing inventory setting vacant with brown lawns and dying shrubs. Then the new house industry will start to perk up a bit. Of course, some of those homes are new ones. My daughter Jennifer said a person at work bought a 5-bedroom two story home in Cleremont, Florida for $275,000 last week. What a deal! Clermont is a developing town 20 miles from Orlando, and there must be small towns with deals like that all over the country.
If people will get out and buy things like they did before October 2008, the recession would soon be over. I recall right after 9/11 how proactive President George Bush was. He told people it was safe to travel, encouraged them to buy a plane ticket and go somewhere; to spend their savings on things, and that would get the economy moving again, and it did.
President Obama must do likewise. He’s the leader in learning, we all understand that, but soon he will have to get out of his worried mode and put on a new happy face telling Americans that all is well. All will be well. Go out and spend.
General Motors sales were down 48 percent last month; Ford’s was down 45 percent; Toyota 38 percent. But look at Hyundai — they were up 15 percent, so you know some people are buying cars. Don’t stop advertising. The economy is rebounding. Don White.