Hmmmm...another expert predicting things to flatten out in 6 months.
Unless Bernake plans to give us all a hefty raise, say double our current salary, I don't see how demand will return to stabilize the housing market. Yes homes aren't as expensive as they were 1 year ago.....but still, the went up between 50%-100% over the last 5 or so years, and they have only come down 10%-20%....
With all the non-traditional loan products, more or less, off the table, it will take some seriously low interest rates to make these homes fit within people's budget.
I am really starting to lose my faith in Bernake.....seems to shill for corporate America these days, not a champion of the U.S. economy.
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People like Bernanke think corporate America = U.S. economy. These are people who get concerned when wages rise because it means higher labor costs for corporations...
Ave, I'm really starting to loose faith in him as well. I knew it was a long shot that we'd get someone who wouldn't sell out the citizenry but oh well.
I wish that guy would get a back bone.
What is funny is that the more he cuts rates, the more fanatical I get about hording my moola. I imagine that's not the reaction he is looking for.
Why would you have had faith in Bernanke in the first place?
Touche PR!
@ gwyn,
I agree, but the more Ben cuts rates, the harder it is to figure out where to hide the moola!
The bank(haha), the credit union who is no longer government secured(sigh), gov't bonds(haha), the stockmarket(Jesus, Mary & Joseph, NO!)
Oil? Gold? I simply want to scream because I am too stupid to find a safe place for my money.
Second sigh...I might be reading too many tin foil hat blogs. Not that this is one of them. Seriously. I enjoy reading this blog for the sake of reading this blog.
I think, in my case, my fears are heightened by too much exposure and not enough knowledge of finance. Ack.
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