By Definition: A Recession is the decline in a country's gross domestic product (GDP) for 2 or more quarters successively. Personally, many of us may feel like we are already in a recession but Wall Street looks at the GDP...So if the GDP does not decline then technically there's no "recession".
What we are experiencing is a slowing of the economy and an insight that a recession is coming. (It just affects us more now because of the housing hit!) Our industry has been dramatically affected...therefore we "feel" the affects more heavily.
Showing posts with label housing. Show all posts
Showing posts with label housing. Show all posts
Monday, February 25, 2008
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