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Friday, October 17, 2008

What to expect

Back in 2007 debunkers said that housing market would hit bottom in 2008. Well, 2008 is almost over and we are going deeper into a depression. Factory order had their worst drop in 34 years. Therefore, unemployment is up and companies are forced to cut hours and wage benefits. This is not a time when many people will buy new houses. In fact, right now, housing starts are at a 17 year low. The few that can afford houses are finding that banks do not want to loan money. So here is what to expect. The depression will get worse in 2009 with high unemployment. Debunkers will claim it was obvious and that I did not predict anything.