With the residential side of industry in a virtual free fall, it came as little surprise when I saw that Pulte Homes announced they are cutting 2000 jobs. There’s no question that residential world is being beat up badly. Tuesday night Donald Trump weighed in on it during an interview with Larry King (it was after the important news of Rosie O’Donnell quitting "The View"- wow love the priorities here.) Anyway, “The Donald” blamed new Fed Chief Ben Bernanke. He basically said that interest rates going up and out control are on Bernanke’s watch and that Alan Greenspan would not allow this to happen. When King defended the reasoning behind it saying its to control inflation, Trump blew it off. And amazingly I think Trump has a point, as a homeowner who got seriously burned by an adjustable rate “ARM” mortgage swinging the wrong way, there’s no doubt that is a huge factor in the slowdown. It’s not the only thing, but to me it’s a serious angle and you know what, the recovery may not begin until the rates get under control.
-- Last week’s post got me lots of e-mails asking why I was in such a “bad mood”- Honestly did not realize I was in a bad mood, but evidently my tone was surely taken that way by more than a few.
-- Most of the reaction came about the Chinese angle but before I get to that, I want to talk about my comments regarding AAMA. Yes I was probably too rough and the only reason I admit that was that I did not take into account the countless volunteers who give their time to create standards and develop programs that are helpful to our industry. My frustration with AAMA standing by as NFRC eats them for lunch should have nothing to do with the TRUE volunteer effort of people involved with AAMA. Really thanks need to go to Greg Carney, of GANA who slapped me upside the head and reminded me of the volunteer angle. So while I can pick on the AAMA ad’s and surmise why they are placed, I apologize to the folks who actually get the work done.
-- As for
-- This story (click here) is very interesting… again shows that commercial building is still going strong, smack in the face of a horrible residential market. It’s pretty amazing that the two sectors could be so polar opposite. Thanks by the way to Joe K for the heads up on this one.
-- Another interesting story from the web was that glass pricing in
-- Saw in this week’s E-Weekly some more
OK, that’s it for this week… but the video comes courtesy of a heads up from sister…. Its Miss