Fallout begins after dismal holiday season »

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• jwinstonComment removed: Spammer1 Reply

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    ybdogsct11 months, 1 week ago

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    Here's more dismal news.
    
    http://www.propeller.com/story/2008/12/30/consumer...
    "The Conference Board, a New York-based business research group, said Tuesday that its Consumer Confidence Index fell to 38 in December from the downwardly revised 44.7 in November. The gloomy news came at the end of a full year of recession.
    
    At the same time, housing prices have plunged and S 500 has plummeted more than 40%. The dollar has been weak against major currencies. This year's holiday retail season is predicted to have been the worst in decades.
    
    Perhaps most unsettling for Americans is the deteriorating job market. Layoffs and income cuts were widespread this year. The number of Americans filing for first-time unemployment benefits rose to a 26-year high for the week ended Dec. 20."
    
    http://www.propeller.com/story/2008/12/30/home-pri...
    "Home prices posted another record decline in October, falling 18% compared with a year earlier. Sunbelt cities suffered the most, but most of the country is watching home values fall. In Phoenix prices have plunged 32.7% since October 2007, Las Vegas home values are down 31.7% year-over-year, while San Francisco prices fell 31%. Miami, Los Angeles and San Diego recorded year-over-year declines of 29%, 27.9% and 26.7%, respectively.
    
    October was really the first month to feel the full brunt of the credit crunch. In October alone, nearly 85,000 people lost their homes to foreclosure, adding vacant inventory to an already overburdened market. Home sellers should not expect prices to improve any time soon."

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  jaern11 months, 1 week ago

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  Its bad all over!
  
  http://www.wimp.com/bailout/

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