I don't have a feel for how much volume traded on the highs TM. Surely some are stuck but sooner or later that's always the case in every market. Just the same there's going to be bargains in some formally over heated areas.
Why doesn't anyone see it? Seems to me as much as I believe ARMS resetting will hurt the housing sector even further, it seems it has no impact on retail spending, employment or GDP.
I don't buy the retail spending #'s they flush out...How's Ford and GM doing? i think the big ticket stuff is going to get flushed out too...Oil down has certainly helped create excess cash in americans pockets, but i think the days of taking a 2nd mortgage and buying your dream boat are over for now.
Look at TGT today, up again. America loves to consume. Retail sales have been strong throughout this entire real estate sell off. Where they get this extra money to spend is beyond me. There is a negative savings rate in America.
she knew the intent of her words today as she propped the markets higher on those strong opinions about the housing market.