Or is it?
Real estate prices are going to go down by another 20% or so in 2009, as foreclosures continue at all-time highs. We're going to hit bottom somewhere around September 2009. Right now the dollar is being propped up by folks overseas grabbing dollars in order to repay debts denominated in dollars, but that's going to end and shortly the dollar is going to resume its plunge, causing imports -- everything we use to live on, nowdays -- to become outrageously expensive. Unemployment is going to continue to increase because we're a nation of real-estate salesmen selling ourselves our own real estate over and over again, and that's spinning down like a friggin' turd down a toilet bowl. Plenty of down left to happen, and I don't expect any "up" to start happening until early 2010.
Like a turd down a toilet bowl. That was 2008. And 2009, the swirling is going to slow down a bit, but it ain't gonna be until early 2010 that the final "Flush!" happens and the water starts rising back in the bowl again. At least, that's my predictions for 2009, and I hope I'm wrong, but I doubt it.
- Badtux the Prognostician Penguin
Not all turds go down...there are those floaters..
ReplyDeleteYou are not too far off of the mark. But the question is, are you ready for a bad 2009?
ReplyDeleteI'm pretty sure that it will be worse than 2008, it was just a warm up.
Hmmm. I wish I had some money. I could probably buy a house. Come on Powerball!
ReplyDeleteYou're wrong, all right. You're a friggin' optimist is what ya are. At least, compared to me. OTOH, I've got lots of popcorn and a great big bolthole to watch the show from...
ReplyDelete