California Association of Realtors: "Housing prices are expected to decline in much of California next year, but sales of existing homes will continue to ramp up… The Golden State's median price will fall 6% next year to $358,000 compared with a projected median of $381,000 for this year. Sales for 2009 are projected to increase 12.5% to 445,000 units, compared with 395,600 units (projected) in 2008.”Prior related posts:
Home prices will fall up to 50%, the Fed can’t keep up with the jingle mail folks, cutting rates to 0 = 33% inflation. Poor, poor timing. Jimmy Rogers recently called on Blind Ben to resign, a total screw up.
San Diego Research
If you don’t vote, you may just be Standing in the soup line, instead of proposing just to see people in them. They already exist. Many will need to focus on making a go of it living below their means for a while; these Liars, Killers and Economy Destroyers need to answer to the People. This is a Democracy.
Bail Bond Officer
If things do get really tough (depression like) it will be interesting to see how the generation (X’ers) handle it. I hope that our economic situation doesn’t deteriorate that much but, in hind sight we are probably due for a reshuffling of the status quo…All this said, in a way I think tough times might be good for our nation, free market capitalism has been of limited success, in which the already prosperous for the most part have managed to increase that prosperity disproportionately in relation to the rest of our society. And the current wealth gap is clearly indicative proof of this. Hopefully, no matter what the course and consequences of our current economic situation our country and society will be made better by the challenges presented by it.
Skin Specialist
Housing prices and sales will continue to decline. Expect 3 years before the bottom; Commercial real-estate will suffer a steep decline as well.
Hotel Manager
Consumer demand will drop. Unemployment will rise. The US will go into a recession at best, a depression at worst. Expect first stagflation (high inflation and high unemployment), both because of the increased price of imports and deliberate pump priming by the Fed, then deflation, as asset prices collapse so hard they take everything else with them. The other likely scenario is stagflation followed by hyperinflation. Formal inflation numbers put out will become not just a joke amongst market-watchers, but amongst the actual population. Same thing with unemployment numbers.
Dietician