You have the Baby Boomers having the resources to buy condominiums, betting on the increase in value in the next six months, ... That activity may be the first to feel the crunch if the housing bubble bursts.
More Quotes from John Silvia:
I think clearly the retail employment number is goofy. I think when that number is revised and we look back several months, we'll eventually see a gain.John Silvia
You could have dismissed it six months ago as a one-time hit,
John Silvia
They view the gasoline thing as temporary, and that's important because it didn't change their overall pace of spending. And that's a different kind of psychology. If it was a permanent increase in gasoline prices, then you would have expected consumers to make a more permanent adjustment downward in their spending and saving rate.
John Silvia
They see these older cities that others may have passed over or thought for dead as environments where they can really create their own living space.
John Silvia
I don't think you have to worry about a profit squeeze, but don't be surprised when people start shouting profit growth has peaked. A lot of companies that are seeing increased costs for raw materials will not be able to pass them on to the consumers.
John Silvia
But I don't think a prudent business or household manager can dismiss these energy prices today. We'll have to see what impact this all has on spending, employment plans and the rest.
John Silvia
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