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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (59199)	8/6/2006 1:34:06 AM
From: GST	Read Replies (2) \| Respond to of 306849

The housing bust could knock two or three points points off our gdp growth for a few years -- flat lining us. It could knock a point off of global growth. But when you are China, growing at double digits, a point or two off the growth rate would be welcome news. China is not going to flat line when the US consumer hurls up the last line of credit gone bad. Nor is India. The rest of the world is already a mixed bag. The US will no longer contribute much to global growth, at least not until we get our house in order -- but your belief that the world is doomed without the spending power of a few million people in the US who are in over their head on real estate is fantasy.