I think the main engine for our economy is jobs but, consumer perception is a close second. Perception normally lags reality by about 90 days and the Campbell real estate market has seemed to be rebounding for the last 90 days.
Consumer confidence rebounds from 28-year low: Financial News - Yahoo! Finance
When I say rebounding I mean that the sales per day is up from last month and it's up 25% from last year.
The economic stimulus package was signed in yesterday and I believe our current real estate problem is one of liquidity. Once the liquidity crisis is resolved the real estate issues will be resolved. Some say that this stimulus package will resolve the liquidity issues and, while optimistic, I think it's not the "end" but the beginning of the end.
What do you think?
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