Jan. 4--Hello, 2009.

Record high and low fuel prices; commodities, stocks and bonds riding a crazy roller coaster; rampant unemployment; falling world currencies and many other factors had an impact on the local economy in the past year. Covering these issues has been the best and worst of times. On our respective beats -- Broady: consumerism; Nardella: real estate, retail and tourism; and Mayle: manufacturing, shipping and economic development -- we've seen some trends. So we've pulled out our proverbial crystal ball to see what the future holds for the Coastal Empire.

--Consumerism

While calling frugality the new sexy might be an overstatement, it's quickly becoming hot. A few years ago, a shopper pulling out a wad of coupons at the checkout line might have encountered a chorus of groans from those behind him. Nowadays you're more likely to hear compliments. Making the most of what you have is the in thing. Instead of bragging about how much you spent, it's more fashionable to boast about what you saved.

Another stimulus is being touted as a sure thing. Although the purpose for the check from Uncle Sam is to spend, more of us are learning to do more with less.

Interest rates are coming down, but credit is still harder to come by. The goal for everyone should be to clean up their financial situations. The defaults of the few have dire consequences for the many.

There are a lot of existing programs and more in the works to help the under- and unbanked. Step Up and the city of Savannah received a $100,000 grant last year to increase the number of consumer education programs available for low-income families regarding banking, personal budgeting and finances.

Look for ways to improve your own bottom line, but beware. Now more than ever, scammers will be out in full force. As rapper Snoop Dogg so eloquently puts it, keep your mind on your money and your money on your mind.

--Real estate

There's a lot of optimism among those in the real estate industry now, but there isn't a quick fix for the national and local housing markets in 2009.

Yes, record-low home prices will help.

Yes, the first-time home buyer tax credit will help.

Yes, lower mortgage rates will help.

But will they pull us out of this slump and get the inventory of homes for sale down to pre-meltdown levels?

That's a no.

Construction of new homes won't pick up until builders sell some of their vacant models and then have the cash to build more. If builders are able to offer spectacular incentives to home buyers, new homes will start to sell first when the market turns around.

Which might not be until 2010.

It's just going to take time. Prices of new and existing homes may not reach their 2006 levels again for a long while, and the number of homes bought and sold won't ever hit 2006's highs.

Home buyers, enjoy those unlimited options out there while they last.

On the commercial real estate side, a number of buildings and storefronts will remain vacant throughout the year as businesses cut back and limit their expansion.

A few big commercial projects, such as 16West in Pooler, have been tabled for now and likely won't break ground until 2010 at the earliest.

--Retail

In the days of dwindling incomes and savings, coupled with increased costs, what was formerly known as "disposable" income is getting thrown at necessities.

That's bad news for much of the retail industry.