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Consumer morale increases despite drop in housing prices Atlanta, GA

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Consumer morale increases despite drop in housing prices

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Despite record numbers of bankruptcies and foreclosures and a continuing decline in housing prices throughout the country, a report released this week shows that American consumer confidence has increased to its highest reported level in eight months. Economic analysts are pleased with this development, citing improvements in the job and stock markets and general economic growth for the increase in optimism.

According to industry group The Conference Board, the organization’s monthly index of consumer confidence rose to 60.6 this month, up from December’s 53.3 and far above the projected level of 54.3. While the group is not completely sure of the reasoning behind the jumps, economists are theorizing that stock market gains and an increase in strength in the job market are main reasons for the added consumer confidence, according to economist Ian Shepherdson. “The recovery in stock prices and the beginnings of an improvement in the labor market are making people feel better about the economy,” he said.

The increased optimism comes just as it is announced that the housing market is continuing to tumble. According to a recently released report, the average price of single-family homes throughout the country fell for a fifth straight month in November, with predictions that they will fall even further. In the S&P/Case-Shiller composite index of 20 U.S. metropolitan areas, home values decreased by 0.5 percent from October to November and by 1.6 percent from November of 2009 to the same month in 2010.

Because of the large number of homes on the market, which is expected to increase as banks resume foreclosures in the coming months, it is unlikely that the housing market will improve anytime soon, says economist Yelena Shulyatyeva. “Given a pipeline of distressed properties that is at least two years of supply, the downward pressure on prices will be with us through 2011,” she said, “even if we see some improvement in housing demand.”

Source: Reuters, “Consumer morale at eight-month high“, Lucia Mutikani, 25 January 2011

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Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

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Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

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Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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