“Ask any aerospace/defense engineer from the 80ies/90ies, and they’ll have interesting stories to tell you. (like my pops).”
I hear you on that one, from GD to MA/COM to Rohr. Everyone I knew was working in the same industry and we were all screwed at once.
I also agree that while the plunging rates will help out some folks, a lot of people have zilch saved up and won’t be able to hold on once unemployment takes its toll and the economy slows down. They’re currently only able to survive in a best case scenario (nothing breaks down, they’ll have their jobs forever with bi-annual raises, etc).
Also, I can’t see real estate making a crazy run again. Simple attrition will wear out speculators who are hoping for another roller coaster ride up. They’ll eventually realize that their money would be productive elsewhere.
A question I don’t have an answer to is what impact the boomers will have on the housing market? If the stock market cools and their variable annuity isn’t providing adequate income, will they sell their home to live on? Will they do it anyways irregardless of the stock market, and to hell with their heirs? How many of these folks are planning on selling their home to live off the income?
I think it’s too early to call a bottom because of Mr. Bernanke’s trigger finger.
