economy

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The economy is really divingoff right now. The stock market just reached 1997 levels. Are you kidding me?!Yes, we just seen this decade’s gains erased. Unbelievable. Really. But I sawthis coming in some way. I knew this cannot continue for too long. Houses weregoing up like crazy. People that were not qualified were buying. Banks werecareless. Left and right. If it seems too good to be true, it usually is. Andthat was the case with housing. House prices just went up too high, too soon.They’re on the downside as well. In NJ, things are not affordable yet. Houseprices have only come down a bit. Maybe 10% but not much more. There is another10 to 30 percent more to go. That’s what I think. I would like to buy somethingin 2009, but the way things are looking, and with the job situation not thatstable, though I’m not sure how much more stable it has be, I don’t want tocommit myself. to something I will have to spend a lot on. It just does not makesense to me. I am under a bit of pressure from my wife, but will wait it out atleast for another 6 months or so. If the economic situation improves, housingwill follow. But economy has to recover first.