The housing market has become so stretched that the affordability ratio for first-time buyers, the folks who drive the incremental demand in the real estate sector, has deteriorated to levels last seen in the third quarter of 1989.
More Quotes from David Rosenberg:
You need more than just the ability to spend, you need the incentive to spend. You're only going to start spending if you can prove to your board that your investment is going to pay off.David Rosenberg
There is the pre-Katrina economy and the post-Katrina economy. Any number that's going to be important for stocks and bonds is not going to be in government reports. The most important data near-term are going to be energy futures. Those are going to be key indicators as far as interest rates are concerned.
David Rosenberg
What all this spells is inflation from barely 0 percent all the way up to something that doesn't even make it to 2 percent. This is an easy money policy
David Rosenberg
This would provide the Fed some flexibility regarding future meetings.
David Rosenberg
We estimate the near-term loss in terms of output, employment and income in the affected area coupled with the surge in energy costs that impacts everyone will offset any future rebuilding by a factor of two to one.
David Rosenberg
That's a horse with a track record that we would rather not go against.
David Rosenberg
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Boris Yeltsin
I find myself enjoying a deeper love than I ever imagined was possible in the form of my daughter and certainly in the union with my wife. It makes everything else, including work, which is one of the things I'm most passionate about, pale by comparison.
Benjamin Bratt