Media

It so will Mhillqt. Most people are hypnotized by the media.

mhillqt, people will equally be impacted by the fall/winter reports. these cycles take time.

a large portion of the media called for no recession, said subprime was contained, everything would be a-ok.

buyers buy with their pocketbooks, and the credit available. both are rather limited these days. 16% U6 is something the media can't overcome.

no i believe the bears. the main stream people will ignore the press, complete complex rent to own analysis, analyze the available months of inventory and listen to the bears on this board.

The people wont buy on need, impulse, passion, etc........

BofA announcing it will close 10% of its branches really tells the people the recession is over. As does Verizon announcing it will cut another 8000 jobs.

kind of how like the collapse of the american car makers and the repeated lay offs over the past 8 years stopped Americans from buying homes, hummers, crap???

and how have those sales been going recently? hummers flying off the lots? debeers planning expansion? four pairs of abercrombie jeans for every teen this season? and amex and visa and mastercard are knocking door to door asking people to accept higher credit lines at lower interest rates? WaMu with IO loans at 10% down with a 10% HELOC at closing with no documentation? that's one of the dumbest arguments i've heard around here recently.

repeated layoffs? 6.5 million jobs have been lost in the last year, not to mention the jobs that weren't created but necessary to keep up with the population, but maybe you hadn't noticed.

aboutready, you can't deny the strong economic news coming in. Every piece of data is indicating this recession is finished. Even the lagging payroll data is showing signs of recovery. Eeven the media is starting to acknowledge the strengthening economy. The idiots over at Good Morning America flashed a recession over screen as was Newsweeks headline that the recession is over. So now mainstream is on board. The rest of the humans will follow what they say. IMHO. :)

steveF, tell that to the one in five who are under or unemployed. and continuing claims do not include people who are on extended emergency benefits or who have expired all benefits.

watch the stiglitz video. or the rosenberg video. if you follow the mainstream press, fine. they've rarely gotten it right, but maybe this time you'll get lucky. maybe this time the american people will get lucky, but i doubt it.

oh, and regarding housing, activity usually bottoms at least a couple of years before prices, for an average market. NYC usually bottoms in terms of prices after that.

http://www.calculatedriskblog.com/2009/07/housing-remember-two-bottoms.html