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

[BleedingHeartPatriot]

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".

[tk2kewl]

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

[delete_bush]

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.

[HockeyMom]

3. Houses are being bought up by Flippers

They don't need FURNITURE.

[xray s]

5. indeed

I think you win the cigar

[BleedingHeartPatriot]

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

[Richard Steele]

Bingo! That's what it means.

[BleedingHeartPatriot]

9. Thanks. Great vernacular to describe a fiscal mercenary action.

MKJ

[SmokingJacket]

4. Maybe everyone's bought all the crap they need?

I keep waiting for that to happen.

[BleedingHeartPatriot]

6. I love that idea. n/t

MKJ

[getmeouttahere]

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!

[Lannes]

10. Id have to read the article

But down here there alot of condos and developments going up in an already saturated market.

[Tsiyu]

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:

[EC]

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...

[RagAss]

13. The way things are going

in another year, you'll get a free condo with a full tank of gas....

:think: