07 February 2006

Bad Moon Rising for Uncle Sam

The Financial Times reports today:
Homebuilders came under pressure on Tuesday after a bearish forecast from luxury builder Toll Brothers sent buyers scrambling out of the sector.

In the latest sign that the US housing market was cooling down, the group said its first-quarter sales had plunged 29 per cent and cut its sales guidance for the full-year....

Toll’s warning also cast a shadow on home improvement retailers. Home Depot and Lowes, two companies in the sector, fell 1.6 per cent to $38.86 and 0.9 per cent to $62.36, respectively.
The pending real-estate crash, in conjunction with the decision to attack Iran will precipitate an economic slide that will bring Sam's whole empire crumbling to the ground.
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