Housing Sector Slowdown Could Affect GM, GMAC

[steinravnik]

http://news.yahoo.com/s/ap/economic_forecast

The report, conducted by UCLA, predicts 300,000 jobs to be lost in the financial sector, and 800,000 jobs lost total.

This could directly affect GMAC, and could possibly adversely affect the entire economy Edited December 9, 2005 by steinravnik

[razoredge]

Housing in its entirety is one of the largest job markets. Paid alot of bills and put food on alot of Americans and Canadians tables. Many of these people are self employed and when they have no work they have nothing. 800,000 jobs is nothing to make lite off. Since the last housing slow down this country has lost many many other industries people could get jobs at. While I would like to see housing and suburban sprawl slowed way down I am aware that with the job loses, things could get ugly for many many familys, because theres nothing else left to do. You can bet if these were 800,000 health care or insurance industry jobs they would all be screamin the second great depression. Maybe this phony economy is all about to hit the wall. In ways I hope it does because people need to open their eyes, but so many hard working lower income familys will be devastated. That boom town economy just clouds everyones reality. Slow, smooth growth is the best, one in which you dont export many of your job sources because you think you dont need them. Only time will tell tic toc tic toc