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drhewitt

Us House Bubble Acceleartes Job Cuts

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Another piece of disturbing news on the USA House Price Bubble.

http://money.cnn.com/2006/09/05/news/econo....reut/index.htm

August job cuts soar from six-year low

Report shows housing market's cooling has a major effect as U.S. layoffs increase by 76 percent.

September 5 2006: 11:12 AM EDT

NEW YORK (Reuters) -- Planned U.S. layoffs surged 76 percent in August compared with the previous month amid signs that a slowdown in housing was starting to have an impact on employment, an independent report showed Tuesday.

Announced layoffs in August totaled 65,278 jobs, compared with a six-year low of 37,178 in July, according to Challenger, Gray & Christmas Inc., an employment consulting firm. It was the only second time this year that monthly job cuts have increased.

On a year-on-year basis, August job cuts were down 7.5 percent, from 70,571.

"There are some signs that the housing slowdown is taking a toll on jobs," said John A. Challenger, chief executive of Challenger, Gray & Christmas.

"Job-cutting in real estate this year is nearly double last year. However, we have not as yet seen a major uptick in job cuts in the sectors we might expect during a significant slowdown. The housing slowdown has not had a major impact on the job market, yet."

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"Job-cutting in real estate this year is nearly double last year. However, we have not as yet seen a major uptick in job cuts in the sectors we might expect during a significant slowdown. The housing slowdown has not had a major impact on the job market, yet."

YET!!!

Time will take it's toll on that aspect.

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Its going to be the worst crash ever according to some reports:

http://uk.biz.yahoo.com/05092006/214/house...owth-slows.html

Tuesday September 5, 06:35 PM
US house prices growth slows
LONDON (ShareCast) - US house prices continued to grow in the second quarter but it was at the slowest rate in thirty years, said the Office of Federal Housing Enterprise Oversight .
The latest figures from federal regulators provided further evidence that the US housing market is cooling.
House prices were up only 1.17% in the second quarter compared to 3.65% in the same period last year,
the biggest fall in price since OFHEO started keeping records in 1975.
The agency said the possible slowdown in price growth could be due to higher interest rates and rising inventories of homes for sale.

A deep recession in the US will impact Europe and the world. We are very lucky to be a few months ahead of the US economy and some have time to take defensive action. Its time to batten down the hatches, spruce up the mainbrace and keep your powder dry!

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Its going to be the worst crash ever according to some reports:

http://uk.biz.yahoo.com/05092006/214/house...owth-slows.html

Tuesday September 5, 06:35 PM
US house prices growth slows
LONDON (ShareCast) - US house prices continued to grow in the second quarter but it was at the slowest rate in thirty years, said the Office of Federal Housing Enterprise Oversight .
The latest figures from federal regulators provided further evidence that the US housing market is cooling.
House prices were up only 1.17% in the second quarter compared to 3.65% in the same period last year,
the biggest fall in price since OFHEO started keeping records in 1975.
The agency said the possible slowdown in price growth could be due to higher interest rates and rising inventories of homes for sale.

A deep recession in the US will impact Europe and the world. We are very lucky to be a few months ahead of the US economy and some have time to take defensive action. Its time to batten down the hatches, spruce up the mainbrace and keep your powder dry!

Can't be long before the invasion of Iran begins...

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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