Comments on: Dow Plunges More Than 310 Points

Disappointing Home Sales Figures Contribute To Investors' Unease

[heresmy2cent]

"Disappointing Home Sales Figures Contribute To Investors' Unease..."

Why does the media always come up with some "lame reason of the day" as to why the market changes?

The decline in home sales is not exactly anything new to Wall Street or to anyone else.

[iceman_1960]

As Warren Buffett said on October 19, 1987 ("Black Monday") "It was paper money yesterday. It's paper money today."

Properly diversified long term investors don't have a cow just because the bull market stumbles now and then.

[hypnotoad72]

bmiller999 - Since cbsnews had put up other economy-related articles saying "X company's lack of profits here were made up by profits overseas", I think it's not unsafe to assume America just isn't needed anymore?

:(

But there is hope. To make the jobs at the wages Indians and Chinese workers think is luxury (all those articles talking of those countries' booming middle classes can't be wrong), all the dollar need do is drop. Globalization will become a reality with America being properly competitive once again, now that wages (and cost of living) have been corrected. They prosper, we prosper, it's all good. Hurry up, Amero.

[rushlimpdrug]

Next generation of Americans:
"Would you like fries with that?
Would you like to supersize it?
Oh, I will get your order as soon as I get back from moving my brand new BMW.
Boy, I make sooooo much money working for the service industry!"

[shanev137]

The housing market....what a joke. All it will be from here on out is the rich buying houses from the rich. The median income can not afford the median house, plus only people with 20% down and stellar credit can qualify anymore. Gee...i wonder where the whole housing market is going to go. lol

[omega39-2009]

Posted by bmiller999

Bmiller999, read this interview with economist John Williams. It is a real eye opener.

www.weedenco.com/welling/Downloads/2006/0804welling022106.pdf

[bmiller999]

I've seen people call this a "correction" on the housing market bubble. But I personally think this is just the beginning of a total downhill economic slide. Caused by the loss of middle class wages.

Someone please do a Standard of Living study (adjusted for inflation please!). I'd like to see where we stand from 50 years ago. And please focus on incomes UNDER $100,000 a year. We already know the rich are doing better.

[setumstrt9]

Hey Simplemind2,

Do you want to compare return on investment over the past few years? While you were taking financial advice from your kid, I've been staking my 401K in agressive mutual funds.

You've barely beating inflation. Good luck to ya!!!!

[setumstrt9]

Hey Simplemind2,

Do you want to compare return on investment over the past few years? While you were taking financial advice from your kid, I've been staking my 401K in agressive mutual funds.

You've barely beating inflation. Good luck to ya!!!!

[bmiller999]

No one talks about how much the average income for your "average" american has gone down. All we ever hear is how Bush's admin created xxxxxx number of jobs that month. You never hear about all the high paying jobs that have be sold out to other countries. And how most of these wonderful new jobs are low paying service jobs (remember we are "transitioning" to the new american economy!)

When someone buys a home while employed at a good, high paying, job and then has to take a low paying job. Odds are that family won't be able to meet the financial obligations they took on when they were making that much higher income. No one seems to be talking about this though. And I don't understand why?

What I'm wondering is when all our good middle class jobs are gone and everyone is making "service job" income how will anyone afford to buy the products that companies are now making elsewhere but importing back here? Let alone be a home owner anymore.