A famous Spanish saying tells us “everything takes the color of the crystal you see through”. Nothing seems more true than some people’s take on the economy based on where they live, specifically when it comes to real estate. Take Marin County, CA for example, where some people refuse to sell their homes if they are to go below their asking price. And whereas most everyone in California seems to agree that this is not a buyers market, people in Des Moines, Iowa still feel pretty confident that their market is stable. Never mind the 12- month inventory on average to middle income homes. You can literally drive any neighborhood (low or high income) and find at least one to four houses per block for sale, people still think they can get top dollar for their property. Maybe it is good to be in denial, better than being worried about the continuing downward spiral on our life styles and the American way. Accommodations will need to be made and we will find ourselves redefining what that means yet again.
I’m glad that financial institutions have finally put their advertising dollars to good use urging people to save money, for a change. It is no secret our average savings rate is in the minuses, while in other up and coming countries like China people save up to 30% of their income. Is it any surprise we owe them our pants? Our credit-based economy, which opened up opportunities for many and made us prosperous spiraled out of proportion and got us into this mess. The pig in the ad is ugly as f..k, but I’m sure glad we’re finally being targeted for a good cause: feeding it.
I found a coupon for 50% off Folger’s Coffee…so I had to get two at that price. I’m saving money already!