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Consumer Angst Over House Prices Becoming Self-fulfilling Prophecy

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Friday, March 10, 2006 4:44 a.m. ET

By JEANNINE AVERSA AP Economics Writer

WASHINGTON (AP) -- Consumer confidence dropped in early March as people fretted about the economy's performance and their own financial fate in the months ahead.
The RBC CASH Index, based on results from the international polling firm Ipsos, showed confidence at 86.2 in early March.
That was down considerably from February's reading of 96.1 _ a 16-month high. But it was in the ballpark with consumers' feelings about economic conditions in March of last year, when the index stood at 84.2.
"Analysts believe that angst is tied to consumer concerns about whether the housing market this year will slow gradually, as most economists predict, or whether it might crash

EAs and VIs still hope for a "soft landing" (a term unknown to modern economics in relation to bubble markets) but popular perception is spooking the herd. Psychologists say that perception often becomes reality and the sheeples' conversation is now turning to whether they ought to get out and take the profits. Given the level of debt involved many may well have to or face certain bankruptcy.

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  • 301 Brexit, House prices and Summer 2020

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