Message to White House: Fear and Panic is Being Heard, but is it the Right Message ?
This morning we received a message from folks we have been working with for awhile that they are putting their house search on hold due to the crisis. We will talk to them and try to alleviate the fear and let them know that in your doomsday scenario, interest rates will be much higher so it will be a great opportunity to lock into a low interest rate now, but I think your message of default, no money, end of the world and fear and panic has obviously set in with these potential home owners.
So if fear has paralyzed these folks, how many other people has it gripped ? How many other businesses - small and large ? The uncertainly is killing our economy.
Of course the media exacerbates the problem. And the politicans contiune to play Russian Roulette with the country seemingly more focused with their own political agenda and the next election than the benefit of the citizens of the United States.
What are your thoughts ?
Are you also seeing buyers putting their home-buying decisions on hold ?
Let's hope and pray that the clowns in Washington DC get their act together this weekend so confidence can be regained short term. We certainly do not need any further weakness in the Housing Market. And everyone, whether they own a home or not, does not want to see their 401K or retirement account be turned into a 201K, similar to when Lehman and Bear Stearns went under.
I would much rather the White House offer solutions than create fear and panic, but that is me. That is what leaders do. Am I wrong ?
Any predictions ?