JUST WATCH IT HAPPEN & DON’T PANIC!
The American financial system has weathered financial panics for 200 years & it can WEATHER
THIS ONE AS WELL, according to Dr. Mark dotzour, chief economist for the Real Estate Center
at Texas A&M U. The U. S. is in unchartered waters, but investors should not panic if a
major bank or investment firm rolls over. Dr. Dotzour said his theme since last July has been
‘expect the unexpected & expect the unprecedented. The govt & press have consistently
underestimated the severity of the situation for the past year. Now the govt is making continguent plans. “The financial turmoil is ongoing & our efforts today are concentrated on
helping the financial system return to more normal functioning”, according to Reserve Chair
Ben Bernanke.
From the Greater Tyler Assoc. of Realtors: average months of inventory since 2004 - 7-8 mos,
average months of inventory 2008 - almost 10 mos.