Let's Celebrate...
The recession is over...no not quite but if you listen to the financial experts wheeled on to television and radio yesterday and in the papers all the main headlines were telling us all day that France and Germany have turned the corner whilst the UK are still awaiting to see an improvement.
Any improvement in the figures has to welcomed but when you look closer we are talking of a third of 1%.
And today I heard an expert from Europe even say this improvement could be temporary and we may see mainland Europe and particular these two countries economies slip back later in the year or in 2010.
He also explained that many areas of these countries economies are being helped and/or supported by their Governments and unlike the UK the housing market is different and the problems experienced is different so the debt is lower in that sector of business. Lets us also not forget that in many areas of Europe it is still more popular or acceptable to rent a home or property rather than buy.
Here buying a home is promoted much more.
So can we breathe a sigh of relief? Not yet! Should we believe the media, I'll wait a little while longer...
Any improvement in the figures has to welcomed but when you look closer we are talking of a third of 1%.
And today I heard an expert from Europe even say this improvement could be temporary and we may see mainland Europe and particular these two countries economies slip back later in the year or in 2010.
He also explained that many areas of these countries economies are being helped and/or supported by their Governments and unlike the UK the housing market is different and the problems experienced is different so the debt is lower in that sector of business. Lets us also not forget that in many areas of Europe it is still more popular or acceptable to rent a home or property rather than buy.
Here buying a home is promoted much more.
So can we breathe a sigh of relief? Not yet! Should we believe the media, I'll wait a little while longer...
posted by The Great Gildersleeve | 7:54 am
2 Comments:
Hi Gildy, you're right we shouldn't jump for joy yet...and even when the Uk does get out of recession it is only an "official" figure thing when GDP gets into growth again but the "real recession", that hits the man in the street comes on the coattails...
Now they are getting excited in the media about Japan turning its economy around...with similar figures being bandied about.
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