John McDevitt and The State of the Economy
November 16, 2006—John McDevitt, former 3M Corporate Economist now semi-retired, looks at the state of today’s economy, the housing market discussing when it will hit bottom and answering the question; Has the housing bubble indeed burst? McDevitt shares his forecast for the housing market for 2006 and 2007, discussing the remodeling and the commercial construction markets. He also talks about the consumer and retail spending going forward, his expectations for oil and raw materials in 2007 and beyond, Ben Bernanke and the Fed and the factors he will key on as signals of a worsening economy.