The subprime crisis and your financial future
Think the prospect of another act of terrorism in the U.S. is scary? Perhaps we should be more concerned about the subprime mortgage crisis, at least in the short term, as possibly having the largest effect on economic stability here at home.
At least that’s what the folks from the National Association for Business Economics seem to think, based on the published results of their latest survey, published on August 28th.
I encourage you to look over this article as it provides a good sense of the current mindset of a sampling of NABE members, who are the most influential and prestigious economic leaders in business.
A positive sidenote to this gloomy prediction about the country’s economic stability is that the outlook for housing over the medium term (5 years) remains rather positive, with a majority of members thinking that prices will continue to remain steady with a slight increase in home prices. In fact, 39% of NABE members surveyed expected average home prices to increase 2%-6% over the next five years, a good sign that the current rut the housing market is in should shift back to its usual modest gains year over year.