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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (27356)	3/13/2007 12:14:40 PM
From: Madharry	Respond to of 37387

as I believe Mark Twain said: there are lies, damn lies, and then there are statistics. forget the anecdotal part of it. If 1MM residences get added to the existing inventory of homes for sale, it will affect more than 5% of the working population. It will impact housing prices, home equity borrowings, consumer spending and investments, unemployment in the constructon, remodeling, and lending businesses. This is on top of the people who have probably lost most of their net worth after losing their homes. Its already affecting investor in the sub-prime lending companies who are seeing their networth and income streams eroded, as well the employees who are now unemployed.

To: Crossy who wrote (27356)	3/27/2007 10:25:47 PM
From: Madharry	Respond to of 37387

New-home sales fell to a seven-year low and February's inventories of unsold houses at sitting at a 16-year high. Both were unexpected. Sales of new homes unexpectedly dropped in February to the lowest level seen in nearly seven years, while inventories of unsold homes rose to a 16-year high, suggesting that the nation's housing market was softening heading into the vital spring buying season. Sales of newly constructed single-family houses unexpectedly slowed again in February, falling 3.9% to a seasonally adjusted annual rate of 848,000, the lowest level since June 2000, the Commerce Department reported Monday. Sales were down 18.3% compared with February 2006. Economists surveyed by MarketWatch had been expecting an increase in February to about 1 million units.