Housing Chart

The Index of "Housing Affordability" was 104.3 in June -- in July it dropped to 102.8, lowest reading since August of 1986.

The Conference Board's Index of Consumer Confidence declined 7.6 points in August from the July figure, its lowest level since November of 2005.

The leading Indicators hit a high last January and have been dropping since.

The "hard landing" vs. "Soft Landing" arguments regarding real estate/housing continue with economists on both sides giving their reasons. Personally, I've been more impressed by the "school of hard landings" as espoused by Paul Kasriel of the Northern Trust and by Prof, Nouriel Roubini of New York University.

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