I've been paying very close attention to this whole thing the past 3 months as I was trying to decide whether or not to relocate to Las Vegas, from what I've learned, hours of scouring the internet, too many financial shows, researching historically low points in the American economy, this is what I've come up with......
Yes, it is going to get worse before it gets better, how much worse is anybody's guess, but the immediate future looks fairly grim. 4-6 years before we recover from this mess is the best number I can put together, yeah that's a bit of a spread but I'm no economist so eat me.
Ralph, BUY a house now, anyone that CAN should be buying, I don't think the rates are going to get much lower.
Hate to be doom and gloom, but that's the way I see it.
Me