Stocks still are trending higher as the economy show signs of at least stabilizing at current levels. Layoffs,at least with larger companies are slowing and production seems to be picking up. Even with these small signs of improvement, in the longer term economic growth will be challenging because of several factors.
1.Loss of value in real estate that is most likely not going to return within the next 5 years.
2 Persistent Unemployment
3. Persist ant unemployment
4. Underfunded Consumer retirement plans
5. under funded pension funds
6. High fixed costs for health care
7. Excessive funds spent on overseas military adventures
8. In creased price for gas and oil
9. Upward pressure for state taxes
10 Upward pressure on ;local taxes
With these types of issues still confronting us in 2010 I don't see how the economy will turnaround.
The administration will be challenged by these and many other issues in he coming year. The president has now had almost a year on the job is he ready for the next 3 years?
With this in minds rates on mortgages still should stay low we will discuss this in more detail in future posts
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