Quote of the day: If that's GOOD news…

…we’d hate to see their idea of bad news.

“If there was any good economic news in the last month, it would have to be the universal realization that the downturn in the economy has reached proportions that have many analysts suggesting that it is by far the worst since the Second World War.”

Geoffrey J. D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois at Urbana-Champaign, in a media release quoted by Crain’s. Hewings’ comment accompanied news that home sales in Chicago were down 16 percent last month compared to sales in September 2007. A total of 1,770 condos and single-families were sold in September, compared with 2,108 during the same month a year ago, according to the report.

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