REO Capital Survey's Wall Street and Main Street
With the fiscal cliff behind us and to be fair, these predictions predate Congress last-minute solution and probably several budget battles ahead, not to mention more coming from Obama Care, & healthcare taxes, and with higher taxes in corporate, payroll, and personal taxes, It will be interesting to see what happens in 2013.
For the record, here’s a recap of what Wall Street and Main Street thinks will happen over the next 12 months…
Economics professor and American Finance chairman predicts stocks will be “up about 10 percent for the year”. The average American is less optimistic: The people we surveyed said they think the market will be up only 5 percent. We believe the only thing keeping this market in an uptrend is the low interest rates. When the federal reserve decides to raise rates this market will fall back to lower support levels.
Our experts at the energy department predict a dip in oil prices this year, down to an average of $98/barrel. The man on the street, is predicting oil will end 2013 at $120/barrel.
What do you get when you combine the prediction of more than a hundred economists, strategists, and real estate pros? Zillow says that says home prices will be up 2.5 percent this year. Main Street thinks that’s pretty close, offering a prediction of an increase of 3 percent.
Meanwhile, CNBC news thinks home prices will be up “about 5 percent, Oil at $110 per barrel by year end, and Stocks up some 5%.” You’ll find financial predictions nearly anywhere and everywhere in between, and with the ranges covered, somebody’s bound to be on the money!
So what do you think??
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REO Capital, LLC
Detroit, MI USA
London, England UK