Posted by Charles_Ca on 3/13/08 12:40pm
Msg #239179

UCLA Anderson Forcast predicts housing crisis to ease

ANDERSON FORECAST SAYS HOUSING CRISIS TO EASE, NO RECESSION IN 2008
The housing market woes are expected to begin easing up by late 2008 and, despite mounting job losses and fuel and food cost increases, the country will avoid a full recession, according to the UCLA Anderson Forecast report released Tuesday.

"Our no-recession forecast remains nervously intact," said UCLA Anderson Forecast Director Edward Leamer. "We see a lot of problems in the first half of 2008 as housing remains a drag on GDP growth and weakness in personal consumption contributes as well. We expect one quarter of negative GDP growth. The Fed continues to dish out good news for Wall Street with ever lower interest rates. The labor market is sluggish and unemployment elevates to 5.5 percent by the end of 2008. But the housing drag on GDP dissipates in the second half of the year and a normal economy returns in 2009."

Reply by Becca_FL on 3/13/08 12:45pm
Msg #239181

From his lips to God's ear, I sure hope so! n/m

Reply by Pierces Notary Services on 3/13/08 1:11pm
Msg #239183

geez I hope so - my husband's company is getting ready to lay off about 100+ people. They manufacture products for homes and have gone from sending out 100+ trucks a day of products to average of 30.

Reply by ME/NJ on 3/13/08 2:44pm
Msg #239195

Hope so, worse week of the year so far 2 closings n/m

Reply by RickG/CA on 3/13/08 4:11pm
Msg #239199

Re: Hope so, worse week of the year so far 2 closings

I'm with ya on this. January and February were fairly constant week to week. I didn't think March would sustain the trend, however slowing to a snails pace was not what I expected either.

Reply by Cari on 3/13/08 6:03pm
Msg #239218

arm's are not being lowered, in fact they're slightly...

increasing, per a new report this afternoon - I just sat there and crinched in my seat!

March, so far has been the WORSE...only 2 this week!