On the news this morning, I heard that in some parts of Florida, 70% of all homeowners owe more on their mortgage than their home is currently worth. The reporter making this comment then added: "Including me". Makes our situation not as bleak by comparison. The "sand states" have been hit the worse by our economic downturn. And as a nation, we seem to still be slipping downward. Even though Seattle (and by extension us) is one of the stronger areas in the country economically, and are seeing job creation which is leading to home buying, the Pacific Northwest is still economically fragile.

 

The great debate about our national debt is causing all sorts of uncertainty and discomfort. Reports today are that businesses are reluctant to hire because they don't know if the country will suffer a tremendous downturn if we default as a nation. And as long as we face this kind of uncertainty, our economy will continue to be fragine.

 

Tough times, not just for real estate, but for the entire economy, and our psyche in general. So many of us carry so much stress about what next. Will the nation default? Will those receiving medicare and social security not receive it for a while? If the US defaults, will our interest rates go up? Will we put the rest of the world in economic jeopardy?

 

Write your representatives and tell them what you think. Or, sit back and watch.