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

To: russwinter who wrote (69417)	9/6/2006 2:27:54 PM
From: mishedlo	Respond to of 110194

Overstated, evidence is that prices are dropping more than the median prices being reported, perhaps mid single digits. Way understated with incentives, free trips, cars, upgrades, and builder discounts that make it appear that the sales prices are holding up. Prices are down 20% on some models by some builders. Gasoline prices starting to drop (although I think that could easily be politically motivated manipulation), and restaurant prices and traffic are down NATIONALLY not just in Michigan. Truck prices and sales are way down too I believe. As I said it has to start somewhere. Watch what happens when jobs dry up. Mish

To: russwinter who wrote (69417)	9/6/2006 2:31:38 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

You think wages are more important than this? I don't. Wages are hugely lagging, and for that matter so are jobs and if they are turning over already that is a pretty bad sign dont you think? US Aug layoffs surge, housing slowdown cited Tue Sep 5, 2006 7:38 AM ET NEW YORK, Sept 5 (Reuters) - Planned U.S. layoffs surged 76 percent in August compared with the previous month amid signs that a slowdown in housing was starting to have an impact on employment, an independent report showed on Tuesday. Announced layoffs in August totaled 65,278 jobs, compared with a six-year low of 37,178 in July, according to Challenger, Gray & Christmas Inc., an employment consulting firm. It was the only second time this year that monthly job cuts have increased. On a year-on-year basis, August job cuts were down 7.5 percent, from 70,571. "There are some signs that the housing slowdown is taking a toll on jobs," said John A. Challenger, chief executive of Challenger, Gray & Christmas. "Job-cutting in real estate this year is nearly double last year. However, we have not as yet seen a major uptick in job cuts in the sectors we might expect during a significant slowdown. The housing slowdown has not had a major impact on the job market, yet." ..... yahoo.reuters.com