Heard it in the news...
@imajerseygirl (433)
United States
August 14, 2009 8:17am CST
This morning I was listening to the news, and they said the recession is over... BUT house foreclosures are up 7% (I believe that was the number), but people are also buying. One that doesn't make sense to me, how can a recession be over but foreclosures be up? Or they also say in the same statement that Walmart sales are also down? If people are still losing there homes that is not a sign of a recession being over. (I mean correct me if I am wrong). Or did they say the recession is over cause the people with the big money aren't hurting so much? 
4 responses
@youngpatrol (425)
• United States
16 Aug 09
I don't believe that it's over, however I don't believe it is going to get any worse then it was. I think we will see it slowly heading back to where it is suppose to be, but very slowly. I am still seeing people in our area losing jobs as well, so I know it's not over.
@imajerseygirl (433)
• United States
16 Aug 09
I completely agree, I don't think it is over either. It is not one of those things that will go away over night. I do think though you have money, obviously you won't feel it as much as us "little guys".
@spalladino (17891)
• United States
15 Aug 09
I don't believe that the recession is over but it is improving. I can tell you why foreclosures are still up though. The main problem in this area is that too many people bought homes with adjustable rate mortgages so their monthly payment has gone up beyond their ability to pay. In addition to that, because real estate values have dropped, many people find themselves owing more than their home is worth and are unable to refinance under any of the government programs designed to assist homeowners for that reason. No one is going to loan you more than your home is worth and the original lender is not willing to forgive part of the debt and accept a lower payout from the potential new lender.
@imajerseygirl (433)
• United States
15 Aug 09
Thanks for the response. I do agree with you the recession is not over but is improving slowly. I just found it a little weird on how they said it is over then went into foreclosure are still up, and sales in stores are down.
@mrakobesie (1246)
• United States
14 Aug 09
haha, i guess they said it because big bussnesses are not hurting any more lol and because with new president we just can't have recession right? I can't find a good jub, so yes, they are nuts for saying it...
@imajerseygirl (433)
• United States
14 Aug 09
LOL it is good to know I am not the only one that found it "weird". :)
@maezee (41997)
• United States
15 Aug 09
Hmmm.. I don't know about this. I definitely think it's getting better but at the same time, in some areas, business is still slow. The drop in sales at Wal-Mart could be due to various things, though, not necessarily having to do with the economy. Wal-Mart, in the last decade, has been getting some bad publicity due to the way they run their business..Maybe people are switching over to Target now. lol. Just an idea.
I don't think they should have led us to believe that the recession is over. I don't think it's over, and I dont' think it will be totally over for a long time (do you?). But I think it's getting better. But I think maybe whatever radio station you were listening to is trying to bust that annoying "recession mentality" (the one that makes people fearful & less likely to spend) - in which case, kudos to them!
