IT’S NOT THE GREAT DEPRESSION, CHARLIE BROWN

By
Real Estate Agent with Coldwell Banker Hubbell Briarwood

I was reading an article on Rismedia where Eric Tyson, author and co-author of Real Estate Investing for Dummies, Home Buying for Dummies, Taxes for Dummies and Personal Finance for Dummies, was discussing the Great Depression statistics among other things.

In 1929, the foreclosure rate was 50%. Unbelievable! The current foreclosure rate is 2.5% nationwide. In Michigan, the foreclosure rate is around 3.9%. Some areas are higher and some are lower. The unemployment rate in 1929 was 25%. Our current national unemployment rate is 6%. Michigan's is approx. 8.9%.

After all the hype and all of the hysteria on Wall Street, I was really surprised at the numbers. If this was 1929 (with our current numbers), they wouldn't even think that this was anything.

It's all a matter of perspective. Here is the link for the entire article:

http://rismedia.com/wp/2008-10-12/main-street-and-wall-street-fact-fiction-and-exaggerations/

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Rainer
102,732
Robert Huntsinger
Empire Realty Upland, CA - Full Service at a Discount
Empire Realty

Dolly,

It is the great depression in my area, everyone is walking around depressed and feeling in the dumps.  OK, it is a different kind.

Take care!

RJH

October 14, 2008 05:59 PM
Anonymous #2
Anonymous
Dolly O'Brien

Chocolate will fix that kind of depression. Believe me, I know about chocolate and depression!!!

Thanks,

Dolly

 

October 14, 2008 06:13 PM
Rainmaker
216,371
Dave Edwards
Dave Edwards Realty

The numbers never lie! Politicians and media "experts" spin the truth.

October 14, 2008 07:00 PM
Rainmaker
291,273
Darrell Walters
W. Darrell Walters

You're absolutely right. It is all about perseption and we could all help by continuing to staying upbeat. We all fall into the media trap.

October 14, 2008 09:46 PM
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Rainer
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Dolly O'Brien

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