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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (87695)10/4/2008 12:27:58 PM
From: koan  Read Replies (1) of 116555
 
One other thing. In my town there is a small over supply of homes, although it appears artificial as rents keeps rising to all time highs. People are renting rather than buying.

But my point. In my community one cannot build a house from scratch cheaper than they can buy one, nor as cheaply as they could build it two years ago.

If oil prices stay above $90 that should put a new high price floor on building new houses when the need to build returns. Probably in agricultrual areas first and other unique isolated areas.

But Like I said. I have no idea how this mess is going to manifest itself other than I do believe a depression is in the cards as I do not see where adequate new revenue comes from to reverse the tremendous damage being done to our economic infrastructure and very high debt problems going forward?
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