Problems with the economy continue but the way in which reports are worded continue to amaze the staff at Mortgage Blues. Just four days ago one news report said the holiday season was great. Then it turned out that everything was counted, including fuel, which has never been counted. While we interview people on the street and take polls to determine the real truth others pump out rhetoric that makes no sense to anyone. Finally, on Thursday, January 10th, we saw a real report:
“People are concerned about the economy,” said Charles Rotblut, senior market analyst at Zacks Investment Research in Chicago. “They’re seeing a lot of foreclosures, rising oil prices, and they themselves are overly stretched.” The staff at Mortage Blues talked to workers in the mid-twenties to determine their concerns. Outsourcing, loss of benefits, and downsizing are primary concerns depending upon what work sector people are in. While it is hard to outsource a carpenters job to India it is easy to replace a carpenter with a less-skilled helper or fire him outright. Across all work sectors there are unemployed mortgage brokers and carpenters concerned about $3 or $4 gas and their own mortgage payments.
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