bad news that's less bad than it was a few months ago. An economic recovery has to start somewhere, and before things start to get better, they have to stop getting worse.
Home prices have fallen about 30 percent nationwide since they peaked in 2006. Isn't that enough? Surely they have to stop falling soon, right? Maybe not. The Federal Reserve has projected a total home price decline of somewhere between 41 and 48 percent, with a bottom in 2010. After that, the "rebound" is likely to be muted, with slow price gains at best.
unemployment rate will keep rising through 2009 and into 2010, topping out somewhere between 10 and 12 percent….won't return to "normal" levels of 5 percent or less until 2016.
If we're going to have the usual kind of recovery—where jobs generate income that consumers spend—then it's still winter
Click on the following for the rest of the story: Why the Economic Recovery Won't Feel Like One - Rick Newman (usnews.com)
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