What Consumer Confidence?
The Conference Board announced the lowest level of consumer confidence on record for the month of December and now once again for January. Little wonder- if all of your assets are falling, job security is non-existent, and Washington seems broken what is there to be confident about? Let’s hope the new administration and Congress can begin putting the pieces together for a recovery to begin later this year. Continued low mortgage interest rates will motivate entry level home shoppers and investors to buy, thereby absorbing the last round of foreclosures before a broader housing recovery begins to takes hold, hopefully by 2010.
Jeff Stricker & Steve TenBroeck