In reviewing the abundance of information describing our nation’s current fiscal condition, more specifically as relating to the Real Estate Market, all sources shared varied opinions, yet did find agreement in some areas.

The first of these appears to be the agreement that the recession is losing steam and in the words of one source: “the pluses outweigh their minuses”.  To quote The Kiplinger Letter: The economic pluses outweigh the minuses.  Consumers are now showing a willingness to spend, despite their high debt levels and rising foreclosure rates.  Their long-term history suggest they‘ll keep it up.  Confidence, rebounding smartly, will keep improving.”

And, there is agreement in another area, that being 90% of the economists predicted the recession to be over by year end 2009, with 74% of the forecasters declaring the end by 3rd quarter, and 19% estimating the turning point to be in 4th quarter.  (Per NABE).  NABE further stated the economy will have grown at a 0.7% pace in 3rd quarter followed by a 1.8% pace in the 4th quarter.  “While that growth may appear to be minute, compare that to shrinkage at a 6.1% annualized pace in the 1st three months of 2009.”

But housing may be stating a different opinion.  Housing has a long history of leading the economy into and out of recessionary times.  Why be any different this time?  So, is there good news?  Per Lawrence Yun, Chief Economist, NAR Research: “Happier days are ahead.”  But with it’s heals digging into the sand. (watch for Pt 2)