I was watching the television with my co-workers in the lunchroom today, and we were bewildered with the news on how the stock market lost by three-digits again and how the real estate market may have bottomed out. In my neighborhood, there are at least 6 houses that have been for sale for over a year and no one has been able to to buy any of them.
My co-workers and I discussed pretty openly how we’re tightening our belts and how so badly affected we are by the downturn in the economy. Most of us spent freely when the real estate market was up because we felt rich. We are guilty of carrying high balances on our credit cards.
One of my co-workers hesitantly told us how she’s been bogged down by credit card debt and doesn’t know how to solve her problems. She’s not alone, a lot of people are currently in financial distress. This economy really has to turn around. I hoping that after the elections everyone will have a better sense of what direction our country is going and have some sense of security and optimism restored.