American clunker lifestyle must change
People aren’t working and consumers aren’t consuming
Deflation is what has to happen as a part of the eventual recovery. We are still in a state of transformation and economic adjustment. When we come out the other side, more people will be living in apartments and home ownership will shrink.
Living in an old home with old technology is like driving a clunker. Clunkers and clunker lifestyle will change.
“News Alert: Sales of previously occupied homes drop to lowest level since '95
10:07 AM EDT Tuesday, August 24, 2010
Sales of previously occupied homes unexpectedly plunged 27 percent in July from a month earlier to 3.83 million -- the lowest level since 1995, according to a report released Tuesday morning by the National Association of Realtors.
While mortgage rates are at record lows, consumers have been skittish about making purchases due to concerns about their jobs and the value of homes.
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