Your Depressing Economic News Post


Here’s some stories that will probably make you reach for a bottle of your favorite beverage:

Inflation Worries Push Consumer Confidence Lower:

Rising prices at the gas pump and in grocery aisles are starting to crimp shoppers’ outlook.

The Conference Board’s Consumer Confidence Index fell sharply from a three-year high in February, reversing five straight months of improvement.

The decline raises questions about Americans’ ability and willingness to spend in coming months.

Home Price Declines Deepen In Major US Markets:

Damage from the housing bust is spreading to areas once thought to be immune.

In at least 14 major U.S. metro areas, prices have fallen to 2003 levels — when the housing bubble was just starting to inflate. Prices will likely drop further this year, making many people reluctant to buy or sell. That would push down sales and prices more.

Housing Market: 13% Of All U.S. Homes Are Vacant:

High residential vacancies are killing many housing markets, as foreclosed homes sit on the market and depress sale prices and property values.

And it’s only getting worse: The national vacancy rate crept up to just over 13% according to last week’s decennial census report. That’s up from 12.1% in 2007.

“More vacant homes equal more downward pressure on home prices,” said Brad Hunter, chief economist for Metrostudy, a real estate information provider.

Tell me again how the economy is recovering, Mr. Biden?

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About Conservative Wanderer

Conservative Wanderer is currently Editor-in-Chief of That's Freedom You Hear! That means anything that goes wrong can be blamed on him. Previously he was a contributor to the PJ Tatler.
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