There are some signs of slow consumer spending…of course, some of it is directly related to home sales. I understand that Home Depot is having a rough patch, and Macy’s and Target have reported leaner-than-expected sales figures. The anecdotal evidence is generally positive – the malls I have been to recently have been crowded, but it’s hard to tell if people are buying things.
J6P will spend until his credit card is rejected……I have NO faith in the restraint of the typical american, neither should you. Its not pessimistic, its reality …I offer the economy of the last 5 years as evidence to this.
This is going to start in earnest 1st qtr/08 folks and its going to be bad and get worse….it hasnt even started yet ….EVERYTHING is intertwined…..EVERYTHING.
There is no industry sector or avenue of commerce that WONT be greatly affected by the coming woes.
In the “San Diego economic forecast” link, did anybody catch the building permits statistic? For SFH it is a bit over 200 permits this year. Lowest since 1993.
I guess that’s “self-healing”. Almost no inventory is being added (or at least constructed). Now it’s a matter of time before the existing homes get sold off – or taken off – the market.
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