No one likes getting kicked in the teeth. Particularly, repeatedly.

That’s how Americans feel this week as the sinking economy flails about, dragging down banks, sales, jobs, credit, savings and hope.

Things that almost all of us had no part in–derivatives, credit-default swaps, subprime mortgage pools — have stomped everyone into the financial dirt.

It’s a bad time to be in the jam of having to sell real estate. Buyers are spooked, and rightly so. Big lenders appear to fear lending, particularly to each other, even though money is available. They want debt off their backs, as do we all.

It’s a “buyer’s market” in real estate, except buyers are afraid to buy even if they can.

We have a lot to fear, including fear itself. Read more »

I know of two separate sellers, each of whom is marketing a tract of more than 5,000 acres. Each is priced at about $1,500/A. I think fair value for each is in the $700/A range. That’s not a low-ball number. It’s how I pencil out the assets. And maybe I’m being generous.

The stock market is down 40 percent over the year. It continues to decline. The Dow is down about 2,250 points in seven days. The economy is stronger than this paniced market, but is being tugged down by weakening sales, tight credit and a dozen other factors. Join the discussion »