The talk is of recession. To be honest, I am interested to see what really shakes out in 2008 and 2009. The last recession found me too young and naive to even realize the economic impact that came about due to the recession. I was, however, fortunate enough to read an article this morning from the FDIC about a hearing of top executives who discussed the possibility of a recession. Though they believed it to be a few years off, the reasoning behind the cause for the next recession were spot on.
See http://www.fdic.gov/news/conferences/2006_Economic_Outlook/whitney.html for the full article.
So, the recession may happen earlier than they expected but they could see it coming. What does that mean for us in the mortgage and real estate business. It means we should stop thinking GREEN, as in money, and start thinking globally. In my opinion, it is important to be educated about all factors that affect any person's profession, so that when change happens (as it inevitably does)they can be ready.
With that said, let us move through 2008 with a steely resolve. Let us look toward the future with a positive perspective, knowing that our economy moves in cycles. This isn't the year to run, it is the year to BE PESISTENT, DISCIPLINED, and CONSISTENT, in our efforts to provide people with the best service imagineable, so that when the fear and negativity is gone, we are left standing ready to work even harder.
Rates have improved and the products to complete loans are still available.