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Housing to push economy to edge of recession »

Posted by: engineer 12 months ago

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Ongoing weakness in the housing market will push the national economy to the brink of recession, but growth in other areas should put the country back on a slow road to recovery by 2009, according to an economic forecast released Wednesday.

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engineer12 months ago

The quarterly Anderson Forecast by the University of California at Los Angeles predicts growth in the gross domestic product of just over 1 percent for the fourth quarter of 2007 and first quarter of 2008.
Economic growth will remain "tepid" for the remainder of 2008 and return to 3 percent in 2009, said David Shulman, senior economist for the forecast.
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engineer12 months ago

With the devaluation of the dollar and the negative savings rate, the increase in foreclosures, the amount of people falling below the living wage (not the poverty line, which is too low a number), etc., we are already in recession!!
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  texangelwings12 months ago
  
  A list of US governments poverty level:
  http://www.cms.hhs.gov/MedicaidEligibility/down...
  It is pretty sad that the poverty level amount is so low! The costs of most health insurances are more than a house payment and more than a car payment. (A house payment is not to exceed 40% of ones income, including all longterm debt, includes car payment.)
  60% of ones income has to cover/pay for; F/W taxes, Social Security, local-state-fed-taxes on goods and services, food, car insurance & up keep, travel expenses, car registration and inspection, property taxes & insurance, phone, clothing, personal items, dental/eye care, 10% to church and utilities. ( and the American worker is suppose to be able to save money)
  How can one afford healthcare insurance, while everything has become so expensive? (One person trying to live on $900 a month is not enough money to live a healthy nor a humane life.)
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    engineer12 months ago
    
    Good post texasangelwings!
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      texangelwings12 months ago
      
      Thanks!
      I dare every Congressional Representatives to try to live on approximately $900 a month or two, then come back to the American people and tell us, "how good life is living on that income level!"
      Congressmen pay $416.66 a month, (which is cheap) for their healthcare insurance, with a min. salary of $175,000 a year, and yet each year they see their own needs for pay raises for themselves, but can not see their way to helping every American to have access to affordible healthcare and living wages & incomes!
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marshx8 months, 2 weeks ago

some experts now predict that we've seen the worst of the credit crisis, i hope they're right!
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