Americans Agree Economic Recovery to Take Years
Mike Colpitts
January 16, 2009
It will take the U.S. economy a number of years to recover from the deepening recession, according to a new poll conducted by Headline Press dot com. The new opinion poll reveals that Americans are getting use to the idea of the economy taking a long time to recover from the worst recession since the Great Depression.
Some 76% of those surveyed said they expect the economy to take at least two years to improve, and half of all those said they expect it to take longer than five years to improve.
The nationīs economy has been battered by weakening credit markets by Wall Street investment bankers who traded mortgage securities like commodities, and bankers who developed new mortgages to make loans to just about anyone who could sign their names. The crisis has resulted in higher unemployment, a deflationary housing market and troubled credit markets.
Housing markets in California, Florida, Michigan and Nevada have seen housing values drop as much as 30% in the last year alone, and signs of a turn around are few and far between, despite an increase in housing sales in some areas. Foreclosures have topped 3.4-million units since the crisis began, which is an all-time record.
The credit crisis has received a series of bail-outs from Congress in attempts to get the economy back on track. The new administration of President-elect Barack Obama is offering a package of proposals to Congress in efforts to improve the nationīs economy.
Headline Press regularly surveys visitors to its web site on news related issues, and offers breaking news online, including streaming TV news, sports and weather headline news.
Get the latest news at http://www.headlinepress.com
Some 76% of those surveyed said they expect the economy to take at least two years to improve, and half of all those said they expect it to take longer than five years to improve.
The nationīs economy has been battered by weakening credit markets by Wall Street investment bankers who traded mortgage securities like commodities, and bankers who developed new mortgages to make loans to just about anyone who could sign their names. The crisis has resulted in higher unemployment, a deflationary housing market and troubled credit markets.
Housing markets in California, Florida, Michigan and Nevada have seen housing values drop as much as 30% in the last year alone, and signs of a turn around are few and far between, despite an increase in housing sales in some areas. Foreclosures have topped 3.4-million units since the crisis began, which is an all-time record.
The credit crisis has received a series of bail-outs from Congress in attempts to get the economy back on track. The new administration of President-elect Barack Obama is offering a package of proposals to Congress in efforts to improve the nationīs economy.
Headline Press regularly surveys visitors to its web site on news related issues, and offers breaking news online, including streaming TV news, sports and weather headline news.
Get the latest news at http://www.headlinepress.com