Foreclosures, unemployment and the trade deficit remain high, but there are some economists who believe that the economy is showing some signs of improvement [1].
Economists point to the trade gap as a sign that American consumers are willing to purchase imports. And, they are predicting that unemployment is topping out.
Additionally, foreclosures remain high, despite interest rates being at a three-month-low. The rates are being kept low in hopes that people will purchase or refinance a home.
“We had been thinking that this year would be the peak, but at the rate things . are going right now, it’s appearing more likely that late 2010 might be the peak year before things start to moderate,” said Rick Sharga of RealtyTrac.
A quick recovery is not in the cards, either.
“I don’t expect it to be that 2010 will peak and 2011 will be the wonderful land of Oz,” Sharga added.”