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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Tue Apr 17, 2007 7:41 pm Post subject: US Housing Market unraveling fast! Dollar breaking down! |
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Mike Larson writes I hate it when my dire forecasts come true. But my job is to call it like it is, and help you make sound investment decisions. So I keep my emotions out of the process, and focus on reality.
And when I look around me and see what's going on in the markets right now, I see two nasty scenarios coming to pass.
Today, I want to tell you why the worst is not yet over in housing, and why the dollar will continue to get crushed
Mega-Trend #1: Housing's Elusive "Bottom" Keeps Getting Pushed Farther Out
Hardly a day goes by without some pundit somewhere calling a "bottom" in housing. Two-bit real estate agents
ivory-tower economists
starry-eyed portfolio managers
they can't seem to help themselves!
But as I told you a month ago , my on-the-ground work tells me the worst is not behind us. Sales remain weak and inventories are extremely high. Prices simply have to fall further to right the ship.
Nothing I've seen has changed my mind. If anything, things are getting worse , especially for the public home builders. Get a load of the latest news out of these guys
March 27: Lennar , the largest homebuilder by sales, reported a stunning 73% plunge in quarterly profits. CEO Stuart Miller, who only a couple months earlier prompted a big rally in building stocks by releasing an optimistic earnings target, did a dramatic about-face. Not only did he say the company wouldn't meet his earlier forecast, he also said things were so poor and the outlook so cloudy that he couldn't even set a new goal!
http://www.marketoracle.co.uk/Article752.html |
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