economy versus stockmarket correction, page-35

conquestsilver, With remarks like: "Give up the crack pipe sunshine and do some research", you are lucky I don't put you in. FYI, everything in my posts on the housing crisis came from reputable financial information sources like Moodys and Bloombergs and was released within the past week. So who is doing the research and who is just shooting off his mouth? If you dont want to believe this then go sell everything and go short. You should make a mint if you are so right about yourself!

As for everyone else, thanks for the feedback. Like you guys I'm only trying to workout which way the market is heading and if Fridays plunge has any significance.

oldngrey, thanks for you observations, this consistent with Moody's research on US credit trends ...
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Index of Pending Home Sales Lifts Some of the Gloom From Housing ... Both July's unexpected 5% monthly jump by the index of pending home sales and the better-than-9% yearly growth of mortgage applications for the purchase of a home hint of a decent demand for housing.

Consumers Plan To Spend More On Cars, Appliances and Housing ... after slowing from Q1 2007's +3.7% to Q2 2007's +1.3%, the annualized sequential increase of real consumer spending should rise to +2.0% in Q3 2007, which would limit the slowing of the annualized quarterly growth of real GDP from Q2 2007's +3.4% to something no slower than +2.0% for Q3 2007.
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nicleeson, maybe to say "house building is booming" is a bit strong at this point. But one of the sources above is quoting full employment in the housing sector and new housing developments are progressing at a fast rate.

As you can appreciate, this, and the above, is inconsistent with a forecast credit crunch. Thus my comments that the subprime mortgage crisis may be overstated.