Bingo JWM! Global Issues are driving the MACRO picture right now. And guess what, EVERYONE is now looking at the U.S. Housing Sector. More specifically, areas that INFLATED the most are at greatest risk. Can you say SOUTHERN CALIFORNIA? Better yet, Can you say SAN DIEGO? WESTSIDE of LA? etc.. JWM makes some very interesting observations incorporatingthe BIG PICTURE. We are in a Global Economy now, and the U.S. is showing weakness. The housing numbers for APRIL will be AWFUL. But, R.E. Shills will try to find a way to spin them . The ONLY numbers which matter are measured YOY……….(Year over Year). MONTHLY numbers don’t mean SQUAT. Median numbers don’t mean SQUAT. The best numbers really, are PRICE/SQ FT, measured YEAR OVER YEAR. But they won’t show you that. Even those can be questionable. Houses actually depreciate each year, ITS THE LAND which GOES UP or DOWN.
Sorry guys, #@&%$?# hits the fan this summer….Even worse the following summer
