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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (26675)	3/31/2005 2:55:27 PM
From: TH	Respond to of 116555

ork, My gut tells me you are correct. GM has a lot of eggs in the new 900 platform, and if SUV/Truck sales continue to decline, they are going to have a very, very bad bottom line for several years. The tool cost is just staggering on that platform. 1.7 million vehicles on that build. We must live, so we must have a house, but that day when you get Mrs. Ork the house she wants (and on sale) is drawing closer. I expect that the Detroit metro area will be the bellwether for significant declines in the US housing market. All the cards are lining up here for a losing hand. And of course I just built a small addition and am planning another one of 850 square feet. I must have rocks in my head <g> Of course I will not move because I have a lock from Engler's Prop A. Many people pay more in a single month for their house payment than I pay for an entire year of property tax. I made a purchase this week and took the financing they were offering. While I waited, I listened to the finance manager tell me about all the people that make 300-400K that he has to REJECT every month. He claimed that it was not their FICA, but the debt to income. I just can't fathom it. I don't make anywhere near that much and I have all that I could want. The debt bomb is going to blow, I just don't know when. GT TH