"we expect solid growth in employment and household income to essentially offset the minor increases in the interest-rate structure that were projecting for the balance of this year."
simply priceless. i've heard this same nonsense about corporations filling in for the overextended consumer. while growth will provide a tad relief, affordability is at such ridiculously low levels it won't do much good to keep the partying going.
"we expect solid growth in employment and household income to essentially offset the minor increases in the interest-rate structure that were projecting for the balance of this year."
simply priceless. i've heard this same nonsense about corporations filling in for the overextended consumer. while growth will provide a tad relief, affordability is at such ridiculously low levels it won't do much good to keep the partying going.
Indeed, a reported reduction in home buying by investors/speculators in the market for new single-family homes is a positive development.
I liked this too. Spin it around, homes. It's bound to get a lot more "positive" at this rate.
Never fails. The RE industry manipulating spinning news.
It's bad. I expect many many homeowners who bought in last 2 years with creative financing will find their cashflow being squeezed shortly.
what about your bets on when the recession will officially begin ?
I said january some 9 months ago.
May I say... Duh.
Mmh June now ?
Before 2007 anyway
its all good news ... major slowdown in economy 2q07