Economy Predictions
The biggest thing right now is fear.
Making predictions is tricky in this economy.
The market has grown bleaker, and worst-case scenarios drafted only months ago are becoming reality.
We live day to day not knowing what is around the corner.
Now the market has collapsed by 46 percent to below 10 million, as people are making do with what they have, leaving the industry to debate - and worry - about what the new normal will be once the recession ends.
Baby boomers, the biggest group in the market, are beginning to enter retirement, a stage of life when people typically buy fewer expensive items.
Home values are down sharply, making them and all consumers feel less wealthy, and also cutting off a handy source of money from home-equity loans for new more expensive toys.
They also think that they will run into financial distress through medical bills.
It is a very hard road ahead for them.
Which should've been easier at this stage in their lives.
To quote a NY Times paper, "I used to buy cars all the time and took out loans to pay them off.
As soon as I paid part of one off I'd get another.
I'd buy one for my kids, my wife, myself.
I can't do that anymore.
" Lifestyles have changed, too.
As many people move back to cities from suburbs, they are swapping three-car garages for a single parking space.
Public transit use is up.
We don't know which way the economy is going to go.
We don't want to buy anything that has long-term implications.
And that makes the economy very bleak.
You need to make decisions that will improve the quality of life.
Which decision you make will truly change your future, think hard on this, it is the most important time in your life.
The graduating classes of 2009 will be hit the hardest.
They are entering the work force at its bleakest time.
For most of them it will be a very long road of interviews and disappointments.
They must find something to help them reach what they are looking for, to achieve a status in life, to become part of society.
What will happen is unknown, I wish them the best, and as always don't be afraid.
Making predictions is tricky in this economy.
The market has grown bleaker, and worst-case scenarios drafted only months ago are becoming reality.
We live day to day not knowing what is around the corner.
Now the market has collapsed by 46 percent to below 10 million, as people are making do with what they have, leaving the industry to debate - and worry - about what the new normal will be once the recession ends.
Baby boomers, the biggest group in the market, are beginning to enter retirement, a stage of life when people typically buy fewer expensive items.
Home values are down sharply, making them and all consumers feel less wealthy, and also cutting off a handy source of money from home-equity loans for new more expensive toys.
They also think that they will run into financial distress through medical bills.
It is a very hard road ahead for them.
Which should've been easier at this stage in their lives.
To quote a NY Times paper, "I used to buy cars all the time and took out loans to pay them off.
As soon as I paid part of one off I'd get another.
I'd buy one for my kids, my wife, myself.
I can't do that anymore.
" Lifestyles have changed, too.
As many people move back to cities from suburbs, they are swapping three-car garages for a single parking space.
Public transit use is up.
We don't know which way the economy is going to go.
We don't want to buy anything that has long-term implications.
And that makes the economy very bleak.
You need to make decisions that will improve the quality of life.
Which decision you make will truly change your future, think hard on this, it is the most important time in your life.
The graduating classes of 2009 will be hit the hardest.
They are entering the work force at its bleakest time.
For most of them it will be a very long road of interviews and disappointments.
They must find something to help them reach what they are looking for, to achieve a status in life, to become part of society.
What will happen is unknown, I wish them the best, and as always don't be afraid.