The last gasp of the US House Bubble is finally here...
Indeed, it seems that the entire affair has been held up by the speculators for some time now.
And they are all wishing they left yestderday... But even yesterday may have been too late, as stocks of unsold housing pile up, foreclosures soar, and buyers become pickier by the day.
Whatever support the House Bubble gave to the US economy...for example, through home equity loans to pay off credit card debt, etc.....IT'S OVER.
Between higher gas prices, lower house prices, the new bankruptcy laws and punk wages...American Retailing should be in a downward plunge soon... And that's not mentioning the recent really bad weather in the Eastern part of the US....during the middle of May.
