What is going on with this economy?
If anything, trying to figure out what the future holds should be left in the hands of good reliable psychics, because our economists haven't really got a clue! Earlier in 2010, the predictions were full of doom and gloom. Interests rates were supposed to go up, the recession was supposed to drag on for years, yet, the signs seems to be contrary, with housing prices stable and sales better than last year, demand for raw materials higher in the last quarter, meaning there is more demand for products, unemployment remaining steady if not improved, in Canada and the USA. Sometimes it is all a bit confusing, who to believe, what to expect?
In the Annapolis Valley at least we know there will always be a demand for agriculture, tires (Michelin), military, so forth, so when there is a recession, we experience very little change. Housing prices have held their own. Sales steady. If you want to stop paying rent, interest rates are still very good. But with the talk coming from Bank of Canada, those rates may not last.
Kevin Stacey
www.KevLin.ca
Posted by Kevin Stacey
on December 17, 2010