Economy is weak but will improve - poll

[JimH52]

Fearing $5 gas, Americans cut back - poll - Jun. 9, 2008

Housing market is showing signs of life. It will probably pull the economy back on its feet, IMHO.

 

[editec]

Housing market is showing signs of life. It will probably pull the economy back on its feet, IMHO.

It is?

I heard two million homes will be foreclosed on this year.

That doesn't sound like a good thing to me.

Have I been misinformed?

 

[JimH52]

I doubt it. But I see and increase is the sale of new homes and I think we will see more urban development due to the increase in gas prices. OPEC is finally looking like they are concerned about spiraling crude oil prices. We can only hope.

 

[editec]

Well, I hope you're right.

The RE market hasn't collapsed here in Maine, but the inventory is increasing rather alarmingly.

 

[JimH52]

The RE market nationwide should begin to come back next year. There are a lot of ifs but it should happen.