Housing Market

[godoftrading]

New Home Sales Plunge to Lowest Level in 16 1/2 Years!!!!

Markets are up again yesterday even after a bad housing number. What does that prove?

No one cares about the housing. The big funds and money guys that move the markets know that there is no housing bubble except for a few regions and that the impact of a slowing housing market has a negligible impact on the US economy.

Apple had great earnings and so did GOOG and AMZN. People are still spending, contrary to the boo ho hoo pro-Obama media and lefties who claim that the comsumer is tapped out due to outsourcing, rising gas, and falling home prices.

Consumer spending is stronger than ever. Massive credit card spending. Tons of consumer debt.

Markets WILL go higher

McCain will be out next president and continue Bush's economic and military policies.

Oil will go much higher and so will food, and the dollar will keep falling, which is very bullish for multinationals.

 

[grantx]

impact of a slowing housing market has a negligible impact on the US economy."

That's right, because all these problems with level 3, ABS/CDO's, etc and billions of losses/write-downs have been underwritten by the Fed (the taxpayer).

So who cares if some Joe Schmuck loses his $75,000 shack (he's probably never seen an onyx bathroom with gold-plated taps); he was never going to invest in the stockmarket anyway so his type doesn't enter equation.

Grant.

 

[TheBramble]

[...] the impact of a slowing housing market has a negligible impact on the US economy.

The US government and the Federal Reserve believe that the housing slump, on its own, will cut US growth by 1% to 1.5%, slowing the economy to around 2.5% next year - a view currently shared by the IMF.

No good being into Ayn Rand and not considering both sides of the story....

 

[grantx]

Watch it Don, he doesn't like Gooks.

Grant.

 

[grantx]

Don,

Never heard of Ayn Rand. Just Googled and now I know why.

Grant.