Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (30440)	5/19/2005 4:40:49 PM
From: Haim R. Branisteanu	Read Replies (2) of 116555

Mish, this craze was supposed to end last summer it still continues. US population growth is slightly below 1% but new construction is at 5 to 6% for the last 2 years and over 4% since 2002 which means that there are about 10% more housing then needed, and those numbers do not count conversion of industrial lofts or commercial space or hotels into residential housing. I am not sure how many remember the 1989/90 housing peak but it happen with much lower leverage than the one we are seeing today. Recent AG remarks related to FNM and FRE and the fact that there are not to many jumping in AG jobs indicates to me that the FED is ample worried and does not know how to stop the madness which is politically impossible - which political figure will accept denying affordable housing to the needy AG fought "imaginative deflation" but created a much bigger monster several times bigger than the Y2K stock market bubble

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