Housing didn’t bottomed, it just stopped declining FOR NOW.
By Daniel at 22 October, 2009, 11:02 am
350k houses go on the market every month, there’s no way prices can hold. More losses in prices will result more writedowns. Capital might not be enough. In august new home prices dropped 9.5% in just 1 month!!!
http://www.census.gov/const/www/newressalesindex.html
Credit cards OK
Unemployment: don’t look unemployment number, look at just the employed! Last month was the 2nd worst decline, but since many retired unemployment number is not that bad, but the number of employed is still in a decline, and even trendline is worsening.
http://www.bls.gov/web/cpseea1.pdf
Revenues, well, last month’s retail sales data was 3rd WORST since recession started. Savings are still growing, total bank loans tightened 2-3% in Q3. There will be no bigger revenues.
http://www.census.gov/retail/
FDIC is bankrupt, as 1 major government agency for example.
- Roka
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