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Ira,
The price of all consumer products has elevated to
an unrealistic level in the US. US workers with an average income
(around $35,000 to $40,000 per year) can no longer afford to purchase most high
end consumer products (Automobiles, Homes, Recreational Vehicles, etc.).
Common sense (a dead art) dictates that product manufacturers either reduce
prices or suffer the consequences of lost sales. Of course the
lack of demonstrable common sense and self restraint is what has driven the
prices to their current levels. I cannot complain to heartily about the
situation as it is having a very profitable impact upon the Futures
markets. If one desires lower prices one must stop buying at
unrealistically inflated prices (no MBA required here).
Have a great weekend yourself.
Tom
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
mr.ira
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">real traders
Cc: <A title=NQoos@xxxxxxxxxxxxxxx
href="">NQoos@xxxxxxxxxxxxxxx
Sent: Saturday, July 24, 2004 4:14
PM
Subject: [RT]
The housing boom must be near an end. There
was an article in today's paper about people lined up 2 days in advance,
living in their cars, in order to buy homes that start at $900,000. The
average price of homes here is going up about $3000 per week. Last week
the average price was $500,000, today it is $503,000.
The housing market here is like the stock market
in 1999 and 2000. I don't think the housing market will fall to the same
degree as the stock market did, but a 20% drop will hurt a lot of
people. It will also reflect upon some commodities, housing stocks and
housing related stocks.
Of course there is no inflation. Just ask the government.
Have a good week end. Ira.
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