excuses excuses, page-60

warnie

another presure to push housing down that hasnt come up yet but will shortly is unemployment.

again this is a cycle and its all linked

when credit is cheap, everyoen borrows to buy things. house's TV's cars clothes etc etc

this puts a massive demand on retail and factorys etc and they all boom, this creates lots of employment to help feed the demand

more people have work and start to buy house's etc.

look at china, they have been making money hand over fist feeding our demand.. and in return buy our resources to make the stuff like cars to sell to us, plus buying more to boom them sevles with all this money.

when credit goes through the roof people stop spending, demand on retail and factorys drop, and they then cut down on staff as the demand is not there.

unemployment starts to go up as a knock on effect as retail slows down (this is next to happen i belive)

as unemployment goes up its more people selling homes they cant afford..

i think the next few years are going to get very nasty.. the warning bells are here, but i dont think this will all get into swing until later this year