Published December 30th, 2008 by editor
2009 Predictions – Not So Good
Everybody agrees that recovery is going to be a long and arduous process. The economy is dipping further and jobs are being shed meaning people are still not focused on home purchases. People are more focused on their day to day living rather than spending so experts are fearing 2009 would not be the year for recovery. The economy isn’t stable enough and more and more people lose jobs everyday, with firms trimming off employees by at least 10% and nobody can do anything about it.
Most to lose are the ones in commercial real estates for banks have stopped shelling out cash and other lenders have followed suit. The industry is very much dependent on the money market and without the necessary funds from loans for further development or even to finish existing ones, no relief is in sight.