Ha, ha. Good joke. As you probably know, every year since he became president, bush has underestimated the deficit so that when it comes in at what everyone else expected, he can claim that he cut it. Brilliant, if not a little dishonest. But, if you know anyone on wall street you know that no economist pays any attention to the bush deficit projections, since their only purpose is propaganda for the ignorant. Tax cuts always cause huge deficits if they are not matched with cuts in spending which they almost never are.

As to the housing crash: Toll Bros., which announced a 44 percent decrease in profits, is offering condos with no mortgage payments for 6 months. D.R. Horton has decided to skip making a projection for next year. Highest inventory of homes for sale ever.

That's not a slump, its a crash. To accurately call this a "buyers market" would require some buyers. There will be some ups and downs but when the dust settles it's going to be down down down.

I truly hope that you are all correct and we have reached the bottom of a slump. But I believe that if you look a little deeper into what the experts are saying, this could last for years rather than months. its not the mortage rates, its the prices. They have to come way down and who wants to go first?

The courthouse where I work in NJ (and by the way I live in Pennsylvania) is like a morgue. Every company has either laid off or cut back on employees. By 2pm there are only a couple of us hanging around watching our fax machines as it were the holy grail. The population of the county where I work has doubled in the last 10 years but my orders are currently at 1997 levels.



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