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  #1  
Old 12-27-2005, 08:51 AM
MedMech
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Making it difficult for the doom and gloomers

I know that they are hoping for the worst but it much better than the 0%-3% that the talking heads on CNN predicted.




Holiday retail spending up 8.7 pct: report
Mon Dec 26, 2005 9:23 PM ET

NEW YORK (Reuters) - U.S. consumers spent 8.7 percent more during the just ended holiday shopping period than in the comparable period a year ago, according to a report from an affiliate of MasterCard Inc., the Wall Street Journal reported in its online edition on Monday.

The study, by SpendingPulse, covered the period from the Friday after the U.S. Thanksgiving holiday through December 24, Christmas Eve. That period included 30 days in 2005, compared with 29 days in 2004.

The report found the biggest increases in spending on home furnishings, up 15.2 percent, followed by consumer electronics and appliances, up 10.5 percent. Spending on jewelry was down 4.6 percent.

The report covers spending in stores and on the Internet, and includes food sales. It excludes spending on autos and gasoline.

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  #2  
Old 12-27-2005, 08:55 AM
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what if.. the government is rewriting some of the records from last year and destroying all traces of the old records to make us think we are doing good.. like in George Orwell's 1984....

Last edited by TheDon; 12-27-2005 at 09:12 AM.
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  #3  
Old 12-27-2005, 09:05 AM
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New-home sales tumble 11.3% in November
WASHINGTON (Reuters) Sales of new homes fell 11.3% in November, biggest decline in nearly 12 years, as the number of houses for sale hit a record high, according to a government report on Friday that offered more evidence of a cooling housing market.
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  #4  
Old 12-27-2005, 09:13 AM
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What if....

The gov sends out mind-controlling waves that inform us of what to think. They're called, "Cheney Waves."
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  #5  
Old 12-27-2005, 09:25 AM
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Quote:
Originally Posted by Botnst
What if....

The gov sends out mind-controlling waves that inform us of what to think. They're called, "Cheney Waves."
halliburton has the contract and the machines for such... thank goodness i have my foil hat on
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  #6  
Old 12-27-2005, 09:50 AM
MedMech
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Quote:
Originally Posted by koop
New-home sales tumble 11.3% in November
WASHINGTON (Reuters) Sales of new homes fell 11.3% in November, biggest decline in nearly 12 years, as the number of houses for sale hit a record high, according to a government report on Friday that offered more evidence of a cooling housing market.
All true but December home sales will show the bounce, November was an eerie month for us in the RE biz thats for sure but December was the save.

New home sales will take an even harder hit this spring when Katrina rebuilding gets into full swing but existing homes sales will make up for it.
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  #7  
Old 12-27-2005, 10:48 AM
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Quote:
Originally Posted by koop
New-home sales tumble 11.3% in November
WASHINGTON (Reuters) Sales of new homes fell 11.3% in November, biggest decline in nearly 12 years, as the number of houses for sale hit a record high, according to a government report on Friday that offered more evidence of a cooling housing market.
Thats simple....because housing prices in many markets have had shacks being beyond the buying power of average mortals....

Not enough rich people left to pay the prices....popgoes the bubble. You can't keep up 25% + anual price increaces when peoples paychecks barely increaced much more than 3-5% over the same period.
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  #8  
Old 12-27-2005, 11:26 AM
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Making it difficult for the doom and gloomers-boom3.gif  
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  #9  
Old 12-27-2005, 11:33 AM
MedMech
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Originally Posted by boneheaddoctor
Thats simple....because housing prices in many markets have had shacks being beyond the buying power of average mortals....

Not enough rich people left to pay the prices....popgoes the bubble. You can't keep up 25% + anual price increaces when peoples paychecks barely increaced much more than 3-5% over the same period.
Bonehead Real Estate prices rise because people are willing to pay it. The big booms that you are describing are isolated from the rest of the country.

Leave Real Estate issues to people who are in the Real Estate business.
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  #10  
Old 12-27-2005, 11:51 AM
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This RE explosion is fascinating. People feel good about the increase in their homes value and go spending. We had not seen it in a major way until it slowed other places. Six months ago building lots were 20/35 up to megabucks in the foothills - now starting at 60/75 on the low end. The result - the entire town bought a new car or truck from the looks of the parking lots at the malls over Xmas.
It's going to be an interesting show to watch. Those poor slave labor Chinese are saving at almost 45% of income and we're on average at deficit savings if you don't include appreciation in residences. This morning two year money is earning slightly more than five year. Adds for furniture and carpet with no payment until 2007 abound.
If there is any historical precedent to look to for ideas I'd like to know about it?
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  #11  
Old 12-27-2005, 12:00 PM
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I'm not a gloom and doomer but from what I read in the papers most of this spending is done via credit card. According to the seattle times, the US personal savings rate is 0 and consumer debt is $2.2 trillion - about double what it was 10 years ago. I guess the question is, how long can this go on?
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  #12  
Old 12-27-2005, 12:05 PM
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Quote:
Originally Posted by ilvanakis
I'm not a gloom and doomer but from what I read in the papers most of this spending is done via credit card. According to the seattle times, the US personal savings rate is 0 and consumer debt is $2.2 trillion - about double what it was 10 years ago. I guess the question is, how long can this go on?
Not long.....
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  #13  
Old 12-27-2005, 12:16 PM
MedMech
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Originally Posted by charlie7
Not long.....
Do you have the crystal ball? I've been hearing this for 20 years, mainly in the 90's when it really jumped (hint hint).
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  #14  
Old 12-27-2005, 12:17 PM
MedMech
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Quote:
Originally Posted by ilvanakis
I'm not a gloom and doomer but from what I read in the papers most of this spending is done via credit card. According to the seattle times, the US personal savings rate is 0 and consumer debt is $2.2 trillion - about double what it was 10 years ago. I guess the question is, how long can this go on?
Internet transactions are mainly to blame for the big jump and people don't use savings accounts because they are stupid investments.
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  #15  
Old 12-27-2005, 12:26 PM
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Quote:
Originally Posted by MedMech
Internet transactions are mainly to blame for the big jump and people don't use savings accounts because they are stupid investments.
Amen to that.

I use savings account for my kid's accounts. I keep a checking acct and a small savings acct so I can have a cheap credit card and free checking. The rest of my money goes into my 401k or to a non-retirement mutual fund family managed (reliably profitably!) by Edwd D Jones. I don't have the sense to manage my own investments and I'm willing to pay them a fee. I still make WAY more than anything a bank can offer.

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