Mar 03 2008
Do you think we are in a Recession?
In a press conference on Feb. 28th, Pres. Bush told the country: “We are not going into a Recession”. He confidently said that we are in a “slowdown”, whatever that means. During the press conference he talked about the economic stimulus bill he recently signed which is designed to brace the wobbly economy by sending out tax rebate checks. The rush rebates range from $300 to $1,200 and gives tax incentives to businesses. About time Uncle Sam gives us some money.
The government believes that this will prevent a recession. What do you think America???
I have told many of my desi clients in Houston, and I will repeat it again here…we will definitely move into a slight recession, but I do not feel it will last for long. We will most likely slip a little further and then start the treck back up to where we stood about 6 months ago.
For all of the desis in Houston trying to look for cheap housing, the best strategy is to wait until the market is surely moving in the upward direction. Do not try and time the market, but instead buy in when it’s on a definite up turn.