The performance of stocks, housing and the oil industry are strong indicators of the health of the overall U.S. economy — and how they perform will have an impact on how your finances will fare, for better or worse.
So, to get a handle on what may lie ahead in 2020, let’s take a look at what the experts — and the person on Main Street — have to say:
Stocks have had a good year in 2019. What will 2020 bring?
In November, an equity strategist at investment powerhouse Goldman Sachs forecast that the stock market would move higher by about 8% in 2020. But our person on the street is more optimistic, predicting a 12% to 15% rise next year. We’ll find out next December whose crystal ball was more accurate.
If you’re hesitant about investing in stocks, read this sage advice from Money Talks News founder Stacy Johnson: “7 Ways to Slay Your Fear of Investing — and Other Things.”
Will we enjoy relatively low prices in 2020?
The Energy Information Administration says oil prices should average around $55 a barrel next year, close to where they are now.
Our person on the street predicts prices will stay in a range between $50 and $60.
Whatever the true price turns out to be, you can always cut the cost. For more, check out “8 Bad Habits That Are Driving Up Your Gas Costs.”
In 2019, housing had another strong year. What will 2020 hold?
In August, a Zillow survey of housing experts and economists found that as a group, they expect growth of around 3% in 2020 — with similar levels of growth in 2021 and 2022.
Meanwhile, our person on the street expects more robust gains — 5% to 10%.
On the fence about buying a home? Check out “8 Reasons You Need to Become a Homeowner.”
So, as you can see, there is a relatively wide gap between the predictions of the experts and our folks on Main Street. Check back next year at this time to see who was right.
If these predictions play out, how will you be affected? Share with us in comments below or on our Facebook page.
How to find cheaper car insurance in minutes
Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.