Talk about a bummer headline.

But we also knew this was coming, based on recently released local-market data showing roughly the same disappointing trend. Next logical question: Where do we go from here? The hunch is up. The economy is starting to produce jobs in somewhat significant numbers. Interest rates are still low. The housing market has roughly stabilized — at least here in Massachusetts. The recent disappointment seems to stem mostly from the length of this market downturn and the yearning for at least back-to-back signs of solid quarterly improvements. In other words: our expectations are a little out of whack.

What are your thoughts?

An update – Boston’s Brett Arends: “All this bearish news makes me bullish.” And he spell out why.

File under: Don’t worry (too much), be happy