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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (19993)12/31/2004 1:23:51 AM
From: John Vosilla   of 116555
 
<The only remote chance is by lowering interest rates.
Once the decline starts, there will be too many jobs lost and no way to put it all back together. If incomes do not rise with housing prices, there is NO chance any prop job can stop the decline once sentiment changes.>

Funny how sentiment and consumer confidence is already pretty negative in many midwest markets hurt by manufacturing and not benefiting from the housing boom. In the end it is truly a nation of local markets as 60% or more of the jobs are service related catering to the needs of the local population. I agree once the sentiment changes, values start declining and related good paying jobs are lost or pay a lot less it is a long spiral down especially for undiversified bubble markets..
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