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Politics : View from the Center and Left
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To: Mary Cluney who wrote (125536)11/25/2009 7:07:34 PM
From: Steve Lokness  Read Replies (1) of 543197
 
Mary;

My sense is that the demand IS there. The financing is not and there are people with jobs looking for financing. My sense is that a pent up demand is building up. I am not all that pessimistic.

Oh boy do we disagree here. As housing values continue to fall more and more and more people are underwater on their mortgage. These people are stuck - they can't sell. That is not a pent up demand to buy it is a pent up demand to sell. .........To make matters worse with a real unemployment of over 17% - that is a real tug to pull housing values down more yet.

I think Obama is as confident as you are. I think he is wrong, but he obviously doesn't worry as now he is off to Copenhagen. More like a jet setter than a man worried about jobs and the economy.

steve
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