Right now consumer sentiment in starting to sour. There are many reasons. Basically, they have no money. Also, there are lower housing prices. In fact, the average house lost 7% as compare to a year ago. Fall was 0.7% since last month even. Typically, houses sell well in the summer. Well, that has not been our case. Sales are very slow this year. Proprietors have been forced to cut prices to get houses to move. Realtors complain that when they finally get a person. Then the bank rejects the loan because they are very picky now. Sadly, even people that have good salaries, good credit, and good stability (for example - doctors) are turned down as banks try to minimize risk and hold on to their money.
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