I guess the real estate market boom that was fueling the economy has finally burst. I know it’s been happening in my area for a long time. Surely, this will hurt the Republicans even more in the 2008 elections.
NEW YORK – U.S. economic growth is likely to slow in coming months as the ongoing slump in the housing industry takes a deeper toll on businesses and consumers, a gauge of future business activity showed Thursday. The Conference Board said its index of leading economic indicators fell 0.3 percent in June, more than the 0.1 percent drop analysts were expecting. The index had risen 0.2 percent in May after dropping 0.2 percent in April. “The leading index has slowed in recent months, suggesting a possible softening of the overall pace of economic activity later in the second half of this year,” the Conference Board’s labor economist, Ken Goldstein, said in a statement accompanying the report.
Neither is the housing info new nor is YaHey reporting the entire story. Heard just yesterday that we are expected to slow later in the year but first Q 2008 and the rest of 2008 is supposed to “Average”.
Yeh me too. I’ve come to rely on those 20%+ returns on my investments and property value’s. Not sure I will be able to afford my 10 million dollar, interest only, home loan unless I’m getting that kinda property value increase and those dividend checks.
When I was reading your posts in the Dow falls 500 thread I kept thinking to myself “I don’t think YaHey knows what he’s talking about”…now I’m sure you don’t.
Where is everyone from the “The Dow is performing so amazingly” group? This economic news probably startles them a bit.
Sorry, but this is hardly news, nor is it startling.
