Who is going to buy a new house??????
American Express to cut 10% of work forceReductions amount to about 7,000 jobsBy Greg Morcroft, MarketWatchLast update: 1:09 p.m. EDT Oct. 30, 2008
Many many companies in America are laying off 10% or more of their workforce. NEVER HAVE SE SEEN SOOOO MANY INDUSTRIES AFFECTED ALL AT THE SAME TIME. We are talking about millions of millions of people affecting tens of millions of people, families, and businesses. It will not be too long before we are over 15% unemployment???
At that rate...how many houses will have to be sold and how many people will be in the market for a new house????