Subject: house prices
Comments: And if the house prices go down, then what? Wages are down 2.5% this year and since GDP is 70% consumption in this country, what does the Fed do? Lower interest rates to prevent a Japanese style crash? Yes, of course, and does the dollar go down? Probably not much because foreign central bankers are propping up the dollar by buying our debt, not their corporations nor their citizens. And why? Because they have the cheap labor AND THEY WANT TO EXPORT TO THIS COUNTRY! So to keep this new paradigm going, we need higher and higher house prices, but after a rest here and at a lower rate of increase please.

Now you're getting the idea. The theme among the worlds influential players is to open the US borders and equalize the worlds wealth. To make others (Mexico, South America) more prosperous by export our jobs, bring down wages, and make us more like people in other countries.

The Unions in this country are being crushed. Look at what's happening in Detroit with the automakers and suppliers. There are no unions in China, India, South America and Mexico.

As far as housing is concerned, if prices remain high or go higher, while wages are falling, the average joe will not be able to afford to buy a house at current prices.

And what is President Bushes response to workers whose jobs have been exported? "Go back to school"