Quote:
|
Originally Posted by tkret
Don't forget that the MAJOR job layoffs haven't begun yet. Of course, the airlines and banks have started to furlough employees but what about the other industries once the consumer really starts keeping the purse closed. When the other parts of the economy look to conserve cash by letting employees go, foreclosures will rise even further. This is the worse housing mess since the Great Depression. 2009 is too early for the end. IMHO we're only in the 7th inning of a 9 inning game hoping it doesn't go into extra innings.
Keep an eye on the unemployment rate; layoffs are the enemy of housing.
|
I agree, with all the news I think it may only be the sixth inning