More on the Same Depressing Subject
September 20, 2010 Leave a comment
It is hard to imagine that except for very extraordinary conditions the economic recovery will be hard and long. Coral Gables will not feel a recovery any more than any other area of the country. Beware City of Coral Gables for further declines in property values.
…the extraordinary length of the recession that…began when the collapse of the subprime mortgage market triggered the most severe financial crisis since 1929.
An official end date for the recession also makes it official that the recovery since 2009 has been unusually weak and jobless. That gives evidence to those who argued that recovery from a recession caused by a financial crisis would be slow and painful as households struggle to pay down their debts.