How bad is the ecomony going to get?

Question

Just curious on the opinions of people as far as where the economy is now, where it will be at the end of the year, and how much worse will the housing market and fuel prices be?

Answer 1

I work for a mortgage lender, and I follow the markets as best as I can.

Unemployment will continue to rise (slightly), at least until the end of the year.

Gas-  it's going to go back up again.  I think by the end of the year, we'll reach between 145 - 155/barrel

Food- costs will continue to rise across the board

Housing--  prices will continue to drop for at least the next year.  Foreclosures are going to stabilize and lessen over the next year.

housing market will not rebound until at LEAST summer of 2009...  this fall/winter and maybe even spring is going to be the time to buy.

Answer 2

My guess is it'll seesaw until after Christmas and rebound early next year. The impact of a bad Christmas will probably hurt through January.

That's just my gut feeling.

Answer 3

Okay you asked for it. Trust me its not going to be a pretty picture...

Because of the cost of fuel and shortage of food... This fall will be the biggest hike of prices it will be a double digit . House buying will go up a little with the fall of prices, but forecloser will increass  

Answer 4

don't worry, gas and fuel prices are supposed to drop more than a dollar by 2009!