The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: jimmg who wrote (71327)	2/3/2007 12:40:03 PM
From: orkrious	Read Replies (1) of 306849

So cash out refis dropped $550 billion in the 3rd quarter of last year while personal consumption growth accelerated in the 4th quarter of 2006. This would not seem to make sense. The reason for this is the broadening out of the economy beyond housing as the primary driver. It makes perfect sense. The economy didn't broaden out at all. People spent more than they made. The personal savings rate was negative 1%, the lowest since the great depression. It can't (and won't) continue. The savings rate has been negative for an entire year only four times in history -- in 2005 and 2006 and in 1933 and 1932. Message 23243093

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