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Mirror Mirror on the Wall

A Few Simple Things to Remember:1. Housing continues to encounter strong headwinds in virtually all parts of the country. Lower interest rates initially manufactured by the Fed have failed to light a fire under home sales. Now rates are headed up as other assets become bubbly. 2. The official unemployment rate is so low its almost laughable (but few if any are laughing). Gainful employment is a critical component of home ownership and without it, we continue to bump along hitting bottom.3. The housing market and its ancillary industries, (home building, finance, decorating, furnishing, repair etc) account for a significant component of the labor force. Can the markets continue to establish new highs on a weekly/monthly basis if two core components of the drivers of growth in the US are on the critical list? Walk over to the closest mirror near you and take a good look. Ask yourself this question while you are standing in the mirror. If you don't like the answer... stop fooling yourself believing that the Fed and our inept politicians can engineer a turn around. Its taken us 40 years of binging on debt and other people's money to get us to this point... time heals, but time is measured in years, not weeks and months.