Housing Boom: Bridge for Sale...
By Ian Cooper
Only used once by an older lady for grocery food shopping and a pack of pickles…
124 years young, this spacious, four-lane bridge, with walking lane, is perfect for family car trips through New York. Take advantage of the bridge’s aerial view of New York’s East River as you drive, or walk, along the 1,595-foot bridge. For more information, call “Homebuyers of Uber Housing,” or “HUH” today…
Experts would have us believe that all is well. That, despite news that the housing slump, the worst since 1991, is expected to linger well into the New Year. That’s despite tumbling consumer confidence; the fact that jobs are harder to find, and the fact that gas prices are high.
Sure, I can see how we’re doing well.
Home prices are down 2.1% in April, and will only get worse as high unsold home inventories, lower demand, and tighter lending standards crush us even more.
The S&P Case-Schiller home price index tells us that home prices in 10 metro areas fell at its quickest pace in 16 years.
An economist (as quoted by AllHeadlineNews.com) tells us, “There’s no end in sight to price declines in housing until supply and demand get back in line and inventories come down. We don’t expect the correction to end anytime soon.”
But Kenneth Lewis, Hank Paulson, Bernanke, and a Freddie Mac treasurer would have us believe everything is okay. According to Timothy Bitsberger, Freddie Mac’s treasurer (as quoted by Reuters), “There are some problems in the U.S. housing market but so far they are largely contained. If I have to worry, it’s about market psychology.”
Contained would explain the spillover into the car industry and other retailers, correct? Contained would also explain why Bed Bath & Beyond now expect flat, or low single-digit earnings for Q2 and Q3 if “current trends” continue. Contained would also explain why housing sales have led to a loss of 1,300 jobs, according to a San Diego auto group. And contained would explain why AutoNation CEO Mike Jackson has been saying (as reported on MoneyNews.com): “A weak housing market will likely hurt new vehicle sales in the U.S. auto industry through the rest of the year.” He adds that weaker housing starts affected pickup trucks among construction workers, given a lack of construction.
Again, only serious inquiries need apply for the four-lane bridge overlooking scenic East River.
Take Care,
Ian L. Cooper
Death Cross Trader
Revolutionary New Trading Research System Generates 2,122% Total Gains!
A cutting-edge new trading research service is taking Wall Street by storm, preying on overpriced stocks and the naïve investors who buy them. And here’s the good news for you: With an 95.6% accuracy rate, the next flood of winning picks is likely coming down the pike at this moment. Act now, and you can test-drive this powerful new trading service... free for six months!
Read all the details here...
| |