if i was uncertain about where this is heading i would pay more...

if i was uncertain about where this is heading i would pay more attention to this paragraph (i sreched it out for easier reading):

"De-leveraging can result from a number of factors including:

- a realisation that house prices were overvalued,

-a tightening of credit standards,

-a sharp revision in income expectations and

-an increase in economic uncertainty.

(and)

-Uncertainty can also lead to an increase in household savings, at the expense of consumption !"

does any of this sound faimiliar ? is is maybe happening around you?

and here you have "the reason" for hiding real employment rates falls!

"As unemployment rises due to falling consumption, the ability of households to service their large debts diminish causing defaults and foreclosures starting what the IMF calls a "self-reinforcing contractionary spiral".

Estimates presented in the report suggest a single foreclosure can lower neighbouring house prices by 1 per cent, but a wave of foreclosures could wipe as much as 30 per cent off local prices."

30% wiped due to a wave of forclosures in smaller area?

wow !

funny how nobody is even commenting on this !
i gather bears know it so...and bulls don't want to attract too much attention to it!

'onya sungar!