Economic forecast
Whenever reading economic forecasts it’s a good idea to look at its source. In the latest news Associated Press’ business writer Mae Anderson claims that more than 80 percent of economists believe the recession is over and an expansion has begun, but they expect the recovery will be slow as worries over unemployment and high federal debt persist.
The housing recovery is seen as one bright spot. Forecasters expect 2010 to be the first year since 2005 that the housing sector will contribute to overall growth. Home prices are expected to rise 2 percent in 2010 but panelists do not believe that will stifle the housing recovery.
They expect home prices to rise 2 percent next year? We shall see how this forecast pans out.
