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Here we present the results of the April 6 ASI E-News survey.
Lowe’s recently reported a better-than-expected profit for its fourth quarter and indicated that 2010 would be a better year for the housing market. Other companies with ties to the housing market are also starting to show signs of a turnaround. Does this mean that the worst for the housing market is finally over?
Does this mean a robust recovery for housing is on its way?
“Recovery has started, but it will be slow.”
“Just because companies show a profit does not mean they are profitable; Enron, Citigroup and JP Morgan.are great examples. Unemployment is higher than what is reported. Until that changes, there is no recovery.
“Government control and taxes are too great for a `robust recovery’ to occur at this time. There is great uncertainty concerning the `Cap and trade’ bill!”
“The banks are generally not loaning money and most people cannot get loans. Therefore, they will not be able to purchase houses.”
“Are you kidding? Lowe's doesn't build houses. Consumers and small contractors use Lowe's. Existing homes are falling like a stone, as well as new housing. Private-sector jobs are decreasing as well.”
“Look for speculators to be the first ones in.”