The National Association of Business Economics (NABE's) forecast that the credit crunch and housing decline should subside by year end. Inflation is expected to cool while also oil and food prices settle down. They also expect the stock market climbs by 10% in 2009. Of special note in regards to lending and housing, the FED is expected to raise rates by a full percentage point in 2009. With the Naples market in the early stages of a recovery it seems as though any further price decline to benefit potential buyers will be counterbalanced by the FED's effort to counter inflation by increasing interest rates that are currently at historic lows. The best values, prices, properties and inventory will slowly be brought down by the increasing activity that has continued to increase month over month in comparison to 2007 and year-to-date comparisons.
**The May 2008 NABE Outlook presents the consensus of macroeconomic forecasts made by a panel of 52 professional forecasters. (See last page for listing.) The survey, covering the outlook for 2008 and 2009, was taken Apr. 17-May 1. The NABE Outlook originated in 1965 and is one of three taken by NABE; the others are the NABE Industry Conditions Survey and the NABE Economic Policy Survey. Founded in 1959, the National Association for Business Economics is the professional association for people who use economics in their work. NABE has more than 2,300 members and 41 chapters nationwide. Lynn Reaser, Bank of America; Robert Fry, DuPont; and Charles Steindel, Federal Reserve Bank of New York, conducted the analysis for this report. The views expressed in this report are those of the analysts and do not necessarily represent the views of their affiliated companies or institutions. May be reprinted in whole or in part with credit given to NABE.
Warm Regards,
Garren Grup, REALTOR
www.BuyUpNaples.com for the most up-to-date list of Homes available in Southwest Florida. **Listings are updated every 4 hours on this website!
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