I think we are in for a bumpy ride for a little wile as thing fall into alighnment. But as to your spacific coments.
"Home values continue to slide. Double digit down." This needed to happen. prices of houses were too high. It was getting to the point that it took one persons complete salary to make a morgage payment. If you purchased at the peak... well you should have seen that coming. prices cant get past what people can afford to pay. Speculators were driving the prices not real people.
"Forclosures still going up." Read answer above.
"Home equity loans are dissapearing. A lot of people relied on the "piggy bank" house."
You can still get one if you actually have equity left.
"Ford is cutting +12% salary guys. More plant closures and hourly layoffs. GM and Chrysler won't be far behind. Suppliers too."
American companies sure seem to be good at riding the wave as long as it lasts. But man sure would be nice if they had some planners looking at trends so they could react a little sooner.
"Energy costs up." Yup this is the one that started it all. All the yuppies buying over priced houses in the country. Driving 2 suv's to the cities to work. All of a sudden got a hefty $400 a month increase in thier fuel bills. $400 they didnt have.
"Food costs up." See fuel costs
"Wages down." We are in a contract year. This should be fun. I hope I atleast still have ins when its all done.
"Unemployment up." This is the one silver linning we have. There are soon to be more people retiring than coming into the work force. Social Security is going to take it in the shorts but good workers will be in high demand.
"I am 53, and I have never seen it this bleak. Do you guys see any improvement soon? "
I am only 45 but I can say I have seen it worse than this at least twice before. (73) and (82) Were much worse. Of course that is just subjective. It might have just been bad for me. :-)
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