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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: austrieconomist who wrote (15799)	6/24/2004 5:57:30 PM
From: Steve Lokness	Read Replies (4) \| Respond to of 110194

Sure thought the surprise number of home sales would bring more comment here. Unless one explains the number away by saying that people are buying under a panic mode before interest rates rise, the number just doesn't make sense. .......Joel Rassman from Toll Bros. was on CNBC this morning responding to the numbers and said they have a long way to go and that housing is not becoming unaffordable. He went on to say that their buyers are 40% overqualified - which I took to mean that they could qualify for yet higher loans. .......Maybe wages are rising faster than they appear? Maybe the housing number will allow the fed to be more rather than less aggressive? Since I believe that housing remains the key to whether THIS economy struggles on or falls, I wish there was more comment on this number. steve