2007-06-12savannahnow.com

"High fuel prices and sluggish housing markets are pulling a double-whammy on moving companies"

Also note this part:

"Economists say that Georgia's housing market missed the brunt of the bubble burst because selling prices never got as overinflated as in some other parts of the nation.

"So home values in the state have remained fairly stable, even though selling activity has dropped off substantially, said Jeff Humphreys, director of the Selig Center for Economic Growth at the University of Georgia's Terry College of Business."

Don't buy it. All you have to do is step outside here in Atlanta to see that we are undergoing a major slowdown, as you will be assaulted by "for sale" signs everywhere. Less price appreciation is little consolation for local sellers in the market, because as a more marginal economy we are more vulnerable to smaller price changes ("down" of course being the reality now). The inflation canard is of course being used heavily here, as even the Fed's modest CPI numbers erase all of the alleged home price appreciation in Georgia in the past year.


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