patrick.net

http://www.cnbc.com/id/32372518

We think we’ll be at 5 percent by the end of 2010 and continuing higher into 2011,” she said. “The Fed is going to be very cautious to make sure the economy is on solid footing before they hike.”

In the meantime, Lekas said the Fed would have already begun to raise interest rates if it weren’t for Bernanke’s tenuous position re being reappointed.

“We do think they’ll signal that they’d like to raise and probably begin so toward the end of this year,” said Lekas.

“We think the Fed will take [interest rates] to almost 7 percent by the second quarter of 2011. That’s based on weak GDP and continuing deterioration of the dollar, which is inflationary.”

 ************

I've heard lots of housing bottom predictions for 2011-2012... Anyone with a brain that needs to sell their house in 5 years or less... NEEDs to sell NOW and sell at a reasonable price... OTHERWISE they'll be taking a much bigger loss in a few years when interest rates rise.

If this news gets out... Prices should start falling hard this fall...

#housing