“Does this fall into the category of “be careful what you wish for”???”
I am experiencing the same thoughts myself. I work for a manufacturer that supplies a variety of products into the industrial and service related industries. Our fist qtr sales were O.K., April we saw softening across the board through most regions of the country. The numbers jumped out because it was so uniform. I’ve seen this trend before namely 1990 and 2000. It’s way too early to tell but this looks awfully familiar. I am hearing that our production is reducing forecast for the balance of the year. That means cost cutting this Fall which means layoffs. In all honesty that is the primary reason for my household sitting on the sidelines. it’s not that I want prices to fall (I really do), it’s the risk of being forced to buy at the peak of what we all know was a bubble (of historic proportions) and then experience a layoff as a result of the negative consequences of that bubble. Then I calculated how much money we save renting verses owning there you have it. I feel confident my household will weather this storm. Once we get though a good portion of this correction and the long term prospects stabilize and homes become something you just live in again it will be time to pull the trigger.
