Recession vs Depression vs Nothing to Worry About?

Where are we today in our economy? Some feel that these things are all trivial. We beg to differ....to a point! We are on the edge of collapse. It's not the Great Depression, and luckily that won't happen becuase many either lived it, or heard about it and will not let the country fall back into that arena again. However, if something is not done...it will get worse. The good thing, which this is weird to say, in today's society is the pride is gone. People are not as concerned with the credit being bad and walking away from their home. Mainly becuase they were backed into a corner..it wasn't a decession they made!!! Well without the help of people selling them a great plan of what they can do with their lives. The Destin Florida Commercial Real Estate market along with the Destin Florida Real Estate market in general is beginning to see a pinch from this. Many of these resort communities are seeing a drop in tourism. People are scaling back from 2 or 3 trips a year to 1 or maybe 2. It affects everything. Again it gets back to what we are looking at on a monthly basis...income vs outflow of cash!

Daily Real Estate News September 23, 2008This is Not the Great Depression Comparing the current crisis to the Great Depression is just plain wrong, say historians and veteran financial experts."The nomenclature of the word 'crisis' has cheapened," says Roy Smith, a professor at New York University's Stern School of Business and former partner at Goldman Sachs .“The Great Depression had thousands of banks failing and people losing their life savings, 25 percent unemployment and social unrest and tent cities of the poor," says Allan Sloan, Washington Post and Fortune magazine columnist."With just 6 percent unemployment, we are having a debate as to whether we are even in a recession," says Richard Sylla, professor of the history of financial institutions and markets at New York University.Source: Reuters News, Robert MacMillan (09/22/08)

There are a few interesting points above and we would like to know your thoughts also. Please log into our forum section at http://www.investsmarter.com/ and let us hear from you. If you are curious about what properties are for sale from Panama City Beach to Destin Florida, please visit us online also at http://www.randbcoastalrealestate.com/ for these properties.