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POPSAbout Ihireconstruction Hundreds of thousands of job seekers, each month, look to IhireConstruction.com for help finding a job in the construction industry. This is because the website is so popular and so well-organized.
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POPSSprott: "It's The Real Economy, Stupid" Anything that starts with "We are now in the early stages of a depression" is a must read. (Sprott Asset Management pdf file) via Zero Hedge http://zerohedge.blogspot.com/2009/07/sprott-its-real-economy-stupid.html US Housing Market Failure: The annual pace of new home sales is now 342,000, a whopping 32.8% below the rate in May 2008. At the current sales pace, there is 10.2 months worth of inventory overhang sitting on the market, dragging down prices and encouraging potential buyers to wait it out as prices deflate... New home sales are down 73% from the all time high of 1,283,000 new homes sold in 2005 (mild recession?)... Rail Car Loadings Suffering: For the first 26 weeks of 2009, US railroads reported cumulative volume of 6,806,892 carloads, down 19.2% from 2008. Stock Market ...at the end of June 2009, the S&P 500 traded at an inflation adjusted P/E ratio of 16.08 And now the Democrats want to destroy healthcare by
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POPSThe Worst? It's Not Over Commercial real estate losses are the next wave, and indications are that this crisis could be even bigger than the S&L crisis of the early 1990s.
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POPSShooting ourselves in the foot Give money to the poor in the form of jobs. Bring back American Factories then see our spending power return. Dropping prices is just going to loose us more jobs.
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POPSWill Only Ignorance Bring Recovery Anymore? You have to see how much real sense this makes. You witness it in your everyday life. But am I wrong in my strong inclination to believe that the post WWII boom, on through maybe the 1980's as well, were much more sensible-spending founded boomtimes? It seems that the feeling of desperation, that get-it-while-you-can mentality really kicked in as we needed these "specialized bubbles of tech, housing, and coming,...green/carbon.
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POPSPlease quit listening to "expert"! Wow, wish I lived in these people's world. Unemployment is skyrocketing every day, people are being moved from full time to part time (could you pay your mortgage on 50% of your pay?), and this guys thinks that a "moratorium" on foreclosures will help? Banks are barely issuing mortgages NOW, you allow this to happen and they will stop altogether. And finally, the reason December sales "grew" was because of nationwide AUCTIONS. This is not a positive. We are not 3/4s of the way through, we aren't even 1/2 way there. Hope you all are stashing cash (at home, not banks) and stocking up on food, when all these foolhardy plans are finally stopped-as they will have to be-we will see the real trouble.
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POPSThe Pain Continues If you want to understand why Wall Street had such weak fourth quarter results, look no further than the housing market, where prices dropped off a cliff in November.
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POPS Money Problems As Gaming Industry Slides Mr Trump said the gaming slump would have no bearing on his other businesses – but he acknowledged there would be a delay in the residential element of his plan to build a golf resort and housing complex on the Aberdeenshire coast in northeastern Scotland. He said development would begin soon, although he would wait for market conditions to improve before starting work on the residential component. In Las Vegas, the largest US gaming market, MGM Mirage has suspended some development projects, while Las Vegas Sands, owner of the Venetian, recently raised doubts about its ability to continue operating as a going concern because it risked defaulting on its debt.
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POPSWarren Buffett's Q3 Moves Seems like he thinks U.S. automakers and retailrs are in for a long slump even though his public pronouncements elsewhere have been long term bullish on U.S. equities.
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POPSIn US, Solar Panels Get Aesthetic Designs At first you don't even notice they're solar," said Tony Fortenberry, who bought a home in Rockland, California, in September with solar panels manufactured by SunPower on its roof. "The tiles are completely integrated into the roof," Fortenberry said. "It has a more elegant appearance and it doesn't look like an add-on."
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POPSHousing TV -- Immune to Housing Crisis Ah, the golden days two years ago when a husband and wife who didn't know anything about home repair would buy a house, invite in the "Flip This House" camera crew, put in new linoleum, paint the walls, upgrade the bathroom fixtures (the realtors insisting that, this alone, raises the price of the home by $20-25,000), and sell the thing a few months later for a $125,000 in profit (if the new sink handles are fancy enough). Of course that doesn't work anymore. But happily, shows about home renovation are as popular as ever!
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POPSMexico Isn’t Feeling the U. S. Economic Slump
Bound to the United States by history, geography, immigration, trade and investment, Mexico’s fortunes have long been linked to the US. The U. S. housing industry, for example, which employs one in five Hispanic immigrants, is in a slump, resulting in a marked slowdown of remittances sent to Mexico. A prolonged U. S. downturn would undoubtedly hit Mexico hard. Still, the nation’s economy is holding up well. The Mexican bolsa (stock) index is up 14.5 percent so far this year. The peso is strong: At the first of the year, $1 could buy nearly 10.9 pesos; now $1 buys a little over 10.3 pesos. While Mexico still ships about 80 percent of its exports to the United States, its farmers and manufacturers are looking for new customers in Asia, Europe and the rest of Latin America. During the first quarter, Mexican exports to the U. S. grew slightly more than 16 percent, while shipments to the rest of the world grew at twice that pace, 32 percent. Exports to Europe grew by 56 percent.
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POPSFeds Urge Leniency For Homeowners Only under the temporary 'hothouse' conditions in mortgage markets did they seem to qualify. Second, people who have no equity in their homes cannot meaningfully be said to be owners. When times turn tough, they will walk away. They were effectively renters, not homeowners. "The crisis will end when housing markets hit bottom and the prices of mortgage securities stabilize. Banks also need to unwind their positions in exotic financial derivatives. The Fed needs to understand it is facing a capital crisis, not a liquidity crisis. The very low interest rates on safe assets show there is ample liquidity in financial markets. The Fed should not supply capital. That is the job of markets, and they are doing it."
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POPSHome Sales Stop Their Descent Finally, at least a little good news in the home buying arena. Mortgage applications are up as buyers find big reductions in home prices in some areas of the country.
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