The Media: One Minute the Economy is Recovering, the Next We're Doomed

I get up about 5:00 a.m. every morning and spend a couple of hours reading the latest news from overnight news outlets. Each day I am amazed at how consistently various media outlets proclaim one of two things; "Housing market collapse is expected to cause a depression any minute now!" or, "The economy is on the rebound, home sales are up a gillion percent!" It never seems to be something in the middle. Something middlishly boring but probably much more accurate like, "Home sales, and as a result the economy, are showing signs of a VERY slow, but hopeful, and correcting recovery."

I am a trained professional in these matters, and yet I'm as confused as anyone else about the outcome in these wobbly times. And actually, it's not even the long range outcome I'm worried about, because I think we will be fine in the big picture. However, it's the getting there that seems so variable and troubling. So many factors, so many opinions, so many spins. What's a regular, struggling family to do?

My answer is, do the same thing our grandparents did when times were tight for them. Tighten your belt, save more, cut out things you really don't need, pay your bills on time, don't incur new bills, and put something aside for a rainy day. Age old advice that we need to hear now more than ever. Like Americans before us, we can and will weather the rest of this storm.

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Jennifer Bunker CRS GRI
Broker, Coldwater Creek Properties
Ogden Utah