Witnessing History

Whether you realize it or not we are witnessing and living through historic times! Once again this morning the government was involved in the sale of Wachovia banking operations to Citigroup helping to avoid a catastrophic failure again! Capital Hill and Wall Street almost seem to turn one direction to avoid a pitfall only to fall into another one.

No one denies the woes of our economy and in particular the financial sector debacle however, is it really this bad; perhaps worse? The more I think, read, and research these times the more I am convinced that things are worse than we think. We have seen companies doing business for over 150 years collapse, sell, been bailed out and even bankrupt. Huge companies are falling left and right, housing prices and sales are still in the tank, mortgage rates are no where near where they need to be to contribute to the turn around, record oil prices, slumping car sales and let's not forget about the skyrocketing costs associated with groceries and utilities.

We has mortgage brokers have an interesting view of this "show" and perhaps are living through the pain a little more than the average Joe. Why? Everything we do surrounds the housing market, rate market, oil market, stock market and financial sector problems. Our daily lives are submersed in negativity surrounding these ever day events! At times it is extremely difficult to separate our work lives from family lives as they are so intertwined right now. Let's hope things improve and fast!

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