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WSJ news report tonight..even though the housing market is "hot"

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BleedingHeartPatriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:33 PM
Original message
WSJ news report tonight..even though the housing market is "hot"
retail sales are down, especially for, get this, the home furnishing specialty stores.

According to the report this is "puzzling".

Do my fellow DU'ers have some theories on why this is so?

I'll bet you do. MKJ

I vote "house poor".
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tk2kewl Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:37 PM
Response to Original message
1. a lot of people need to spend 1/2 of their income on housing cost
doesn't leave much when you figure gas has doubled and everyone's gotta eat
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delete_bush Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:37 PM
Response to Original message
2. Everyone was out buying a new car instead?
DETROIT - Automobile sales for July hit an all-time high, aided by promotions from American carmakers that give many buyers discounts normally available only to employees.

The total number of passenger cars and trucks sold last month in the United States hit 1.8 million.
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HockeyMom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:38 PM
Response to Original message
3. Houses are being bought up by Flippers
They don't need FURNITURE.
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xray s Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:39 PM
Response to Reply #3
5. indeed
I think you win the cigar
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BleedingHeartPatriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:42 PM
Response to Reply #3
7. What are Flippers?
I'm making up that they're people who buy homes just to wait for the appreciation and then sell.

Am I close? MKJ
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Richard Steele Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:43 PM
Original message
Bingo! That's what it means.
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BleedingHeartPatriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:48 PM
Response to Original message
9. Thanks. Great vernacular to describe a fiscal mercenary action.
MKJ
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SmokingJacket Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:38 PM
Response to Original message
4. Maybe everyone's bought all the crap they need?
I keep waiting for that to happen.
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BleedingHeartPatriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:40 PM
Response to Reply #4
6. I love that idea. n/t
MKJ
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getmeouttahere Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:43 PM
Response to Reply #4
8. Well, they won't be able to buy anything...
with the flight of still more jobs. More of us will be working 2-3 jobs just to be broke!
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Lannes Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:51 PM
Response to Original message
10. Id have to read the article
Edited on Thu Aug-04-05 09:51 PM by Lannes
But down here there alot of condos and developments going up in an already saturated market.
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Tsiyu Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 09:59 PM
Response to Original message
11. People are getting better deals and better furniture
at estate sales and foreclosure sales and auctions and the garage sales of the elderly who are selling their credenzas and dinette sets to pay for medicine? :shrug:
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EC Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 10:07 PM
Response to Original message
12. I think we've gone way beyond "house poor"
I think from what I've seen around here, allot of new houses that were built last year even - still haven't sold - but yet there are new sub-divisions going up one after another, remaining unoccupied...
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RagAss Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-04-05 10:17 PM
Response to Original message
13. The way things are going
in another year, you'll get a free condo with a full tank of gas....

:think:
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