Hope collides with reality

| November 12, 2008

Here are two articles at the Rocky Mountain News website this morning.

First headline: “Poll: 72% are confident Obama will fix economy

WASHINGTON — In one of the economy’s darkest hours in decades, it looks as if people are taking Barack Obama up on his exhortations for hope and change.

Seven in 10, or 72 percent, voice confidence the president-elect will make the changes needed to revive the stalling economy, according to an Associated Press-GfK poll released Tuesday.

Underscoring how widely the public is counting on its new leader, 44 percent of Republicans joined nearly all Democrats and most independents in expressing that belief.

Second headline: “42 percent of homes in Denver area sold for a loss

More than four out of every 10 home sellers in the Denver area during the past year learned the hard way there’s no guarantee that a home always rises in value.

Some 42.7 percent of the homes sold in the Denver-Aurora metro area sold for a loss in the third quarter, according to a report by real estate Web site Zillow.com.

That compared with a national average of 30.2 percent, according to the analysis of 163 metropolitan areas by Zillow.

I’ll be interested to see what both statistics are a year from now.  ..bruce w..

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Category: Credit Backlash, Economics, Main, Recession Watch

About the Author ()

Webster is Principal and Founder at Bruce F. Webster & Associates, as well as an Adjunct Professor of Computer Science at Brigham Young University. He works with organizations to help them with troubled or failed information technology (IT) projects. He has also worked in several dozen legal cases as a consultant and as a testifying expert, both in the United States and Japan. He can be reached at bwebster@bfwa.com, or you can follow him on Twitter as @bfwebster.

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  1. lccrisle says:

    Barack Obama has become the “great white hope,” ironically. I hope he can do even half of what he’s promised. Heaven knows we someone to do something right.