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- The Day Housing Faced the Plague of Locusts: Lessons from The Great Depression Part XIII. Facing our Own Economic Pilgrimage.
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With the systemic problems facing the United States and now being officially in bear market territory, this will be a challenging holiday weekend for many Americans. Already many are planning to curtail any major traveling and are opting to stay at home and possibly doing a barbeque at home because of high fuel costs. Aside from the high cost of fuel, Americans are feeling the pinch of a demoralizing housing market that is causing equity to evaporate as each day goes by. The wealth effect is in full onslaught impacting the psyche of the American consumer. That ever resilient consumer is finally showing an Achilles Heel.
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Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
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