Consumer confidence crashing as home prices continue to fall and people start losing their underemployed jobs - Confidence-Conf. Board data will confirm
Peter Oberois
Mar. 25, 2007

The Confidence-Conf. Board data due on Tuesday will fall with rapid pace. The economy is getting ready for a solid plunge. As people struggle to come up with cash to debt service the second mortgage and home equity line of credit, as home prices continue to decline 2% a month, as unsold homes still keep rising, the consumer confidence is falling. Higher gas price and prospect of sharply higher unemployment are also reasons for worry.

Those in twenties who all on a sudden made some money buying stocks on margin are now wiped out and are eager to swear never to touch the stock market again. Most of this daytime gamblers eventually end up in futures market before losing their decent livelihood.

These stock market burnouts, real estate flippers who went bankrupt are also adding problems to the deflation in the economy. Consumer confidence is crashing as home prices continue to fall and people start losing their underemployed jobs. Confidence-Conf. Board data will confirm the same on Tuesday morning.

Consumer confidence crashing as home prices continue to fall and people start losing their underemployed jobs - Confidence-Conf. Board data will confirm
Peter Oberois
As people struggle to come up with cash to debt service the second mortgage and home equity line of credit, as home prices continue to decline 2% a month, as unsold homes still keep rising, the consumer confidence is falling.
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