The GDP growth rose considerably to a annual rate of 3.2% up from the previous 2.6%
The market seems to be doing pretty well and those GDP numbers are pretty solid. Just the same I have some worries.
Housing is not looking any better and I think it is or at least could get a little worst. That scares me a bit. I think we are going to see a lot of foreclosures in the future and a lot of banks are going be taking on properties that they can not sell and I think that will be most of them.
Homeowners of course will do their best to stop foreclosure through a mortgage solution such as loan modification or even refinancing. But many will not be able to afford their mortgage payment or rather the home.
I suppose only time will tell. I would just hate to see things take a turn for the worst as I am not sure the economy has what it takes to pull itself back up from a double dip.
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Hey look on the bright side of things the economy has been growing at a rate over 3% in the last quarter of 2010. That is leaps in bounds over the 2.6% gdp growth in the third quarter.
ReplyDeleteyes there will be a lot of foreclosures and the like and it could get a little bumpy but the US started on bumpy. we will be all right.