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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (60050)8/16/2006 12:02:16 PM
From: Incitatus of 306849
 
David Orr, chief economist for First Union, said the current market for both new and existing home sales is helping to make up for the growing weakness in other segments of the economy.

"I think both these numbers are showing the housing market is continuing to provide a cushion for the economy, partly offsetting the severe weakness in manufacturing and the stock market," he said. "It's a high plateau, and that's a good cushion, even if it's not growing."

A permanently high one, no doubt.
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