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Related Resources

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ARTICLE_DATE February, 09 2009 00:01:00
ARTICLE_DATE_STR 20090209
ARTICLE_DESCRIPTION <p>Some light at the end of the tunnel?</p>
ARTICLE_ID 258
ARTICLE_STATUS published
ARTICLE_TEXT <p>The&nbsp;southwest Florida counties that had been considering changing their names to Default, Foreclosure, and Subprime are hearing some <a href="http://www.news-press.com/article/20090208/BUSINESS/902080382/1075">positive if tentative</a> things from their bankers.<br /><br />The pace of new foreclosures seems to be slowing and housing prices may be bottoming out.&nbsp; The median price of houses being sold has shown a modest increase for the first time since December '05.<br /><br />With the recession as a catalyst, <a href="http://www.istockanalyst.com/article/viewiStockNews/articleid/3020133">positive financial transformation</a> may already be happening.&nbsp; Economist Joseph Schumpeter's concept of &quot;<a href="http://chronicle.com/cgi2-bin/printable.cgi?article=http://chronicle.com/free/v54/i15/15b00801.htm">creative destruction</a>&quot; seems more operative during a recession.</p>
ARTICLE_TITLE Cautious Good News
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Business

Cautious Good News

The southwest Florida counties that had been considering changing their names to Default, Foreclosure, and Subprime are hearing some positive if tentative things from their bankers.

The pace of new foreclosures seems to be slowing and housing prices may be bottoming out.  The median price of houses being sold has shown a modest increase for the first time since December '05.

With the recession as a catalyst, positive financial transformation may already be happening.  Economist Joseph Schumpeter's concept of "creative destruction" seems more operative during a recession.


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