Economic Recession Vs. The Housing Market
As I suspected, my previous blog elicited many comments, some agreed, some did not. There were a few different areas that I wanted to go into, but wanted to remain focused and to the point. No tangents in this here blog. Later yesterday evening I went in to shoot Lary King Live and as luck would have it, they talked about the exact same thing that I wrote about. King had a full panel of experts that included Ben Stein, economic columnist for the New York Times Paul Krugman, CEO of 1-800-CashOffer, Jeremy Brandt, Author of “Girl Get Your Credit Straight,” Glinda Bridgforth and star of the Bravo television show “Flipping Out,” Jeff Lewis. As you can imagine, it was quite the heated discussion. All seemed to agree with what I wrote and many of your comments, some were even harsher than Mr. Leykis or Mr.Beck.
People are saying we are in a economic recession because of the housing crises…umm, no no no, we are in a housing crisis because of greed. Many are not aware or don’t realize or simply don’t want to admit that you can have a strong economy and have a bad housing market and vice-versa. It is possible that one can have nothing to do with the other. What is happening with the housing market was bound to happen regardless of how the economy is. It is a cyclical market and is going to experience ups and downs in both good and bad economic times.
A good example of this would be Orange County. An area that can boast of having one of the largest economies in the world, has experienced up to a 45% decrease in both sales and housing prices in some areas. For the entire county as a whole, sales are down 26% from this time last year and the median home price is down 23% from this time last year, according to Dqnews.com. To note: The 92649 area code of Huntington Beach has experienced a staggering 57% decrease in sales…OK, that just may be the recession 
