WHAT IS THE ECONOMIC/REAL ESTATE OUTLOOK FOR2008?
If this week's poll results are anything to go by, there'snot much optimism regarding the economic outlook for 2008. Mostrespondents (67%) replied that they were on the fence, 23% areexpecting the worst and only 9% remained positive, expecting agreat year. Dr. Joseph Seneca, a professor at Rutgers' Edward J.Bloustein School of Planning and Public Policy is not expectinggreat things from the year ahead. Here are histhoughts:
"The economic outlook is a giant question mark. It's clear thehousing market has more unwinding to do. We've seen significant,steady declines in sales, new home starts and new home permits inmany parts of the country; it's a downward trend with no bottom insight.
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