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Posted: 10:09 p.m. Tuesday, Dec. 27, 2011
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By Tiffany Griffith
Analysts are making their economic and home buying predictions for the new year.
Not to burst your bubble as we begin the new year, but Senior Economist Ryan Sweet with Moody's Analytics says high unemployment will continue to be a drag on the economy in 2012.
"You're going to see businesses remain cautious in both hiring and investing, because consumers aren't going to be rushing into the stores with a 9% unemployment rate," says Sweet.
And there's still some reluctance to purchase a home in what should be a buyer's market. S&P Chairman David Blitzer says expect a sluggish year for home prices and sales.
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