- Craig Studnicky, President of International Sales Group (ISG)
Across all sectors of the economy, consumer confidence is as low as I have seen in my 31-year career. The Dow Jones is plummeting, the auto industry is in dire straits, and unemployment is approaching 9%. That is close to the total number of unemployed people in 1929, the time of the Great Depression. President Obama is indeed trying to get people back to work, but until the administration is able to make a dent, people will not regain confidence. This creates fewer buyers in the real estate market, and in the market overall.