It's the worst the economy has been in years. Home sales hit a record low,the worst in 8 to 10 years. Only 210 homes were sold in the Rockford area in January. Then home values dipped down almost 3,000 dollars, next retail spending all but dried up and gas prices skyrocketed. An associate of the Blackhawk Bank Rick Bastian says,"
"There's a perfect storm of a variety of forces coming into play,that are going to have to correct themselves before things get better."
Meanwhile other experts don't think it's that bad. Jeff Reynolds an NIU Economist had this to say, "The question becomes should we be looking at the contraction of the economy, due to a measure of good and services or should be looking at other at other health indicators to will the economy. the economy isn't necessarily on life support,but it also has the flu. It's uncertain how long this will last, many say Rockford is insulated from both the weak and strong shifts in the U.S. Economy.