The Good News: No Recession Expected, Foreclosures Down

An MSNBC panel of economy experts gathered at their annual forecast and agreed that, except for a mishap by the government in coming months, there will be no recession. The economy will slow considerably as people spend less and the housing market continues to recover. However, according to the panel, it is not going to get too rough on a national basis. It feels like a considerable change because of the growth of recent years but the economy is expected to grow, none-the-less.

Also, foreclosure filings are down. Though the levels are high, they are down.
"Soaring foreclosures have set regulators and lawmakers scrambling to curb the trend, which many economists say could tip the U.S. economy into recession. Plans that make it easier to get a government-insured loan or would freeze interest rates for some subprime borrowers will slow foreclosures, analysts say. But many homeowners remain vulnerable to default." - MSNBC
The two are tied. Actions to minimize foreclosures will likely help keep the economy on a good pace.