:28:05
- Who sent you?
- A friend.
:28:09
I don't have any friends.
:28:12
- When will I see you again?
- Soon.
:28:18
I promise.
:28:25
There are several points of interests here.
:28:28
First of all the fact,
:28:31
that buyer impressive margin,
:28:33
in new home purchases
took most of the brunt of that decline.
:28:37
By this I mean that sales
of older homes,
:28:40
indent on an individual basis
leaves considerably more room for negotiations.
:28:43
Therefore in those sales we are more likely to find
:28:46
that the official rise in mortgage rates...
:28:51
The prospective rates of return
on high tech investments,
:28:55
which led to a surge
in business capital spending
:28:58
and significantly increased
the underlined gross rate of productivity.
:29:03
The capitalization of these,
:29:06
higher than expected
returns boosted equity prices,
:29:09
generally beyond that expected,
:29:11
by the enhanced rise in real income.
:29:14
The elevated level of light vehicles sales for example,
:29:17
has put more vehicles on the road
than the industry could sustain.
:29:21
And even though demand for a number,
:29:23
of high tech products was doubling
or tripling annually,
:29:26
in many cases new supply
was coming on even faster.
:29:30
Overall capacity
in high tech manufacturing industries,
:29:33
rose nearly 50% last year.
:29:36
Well in excess of it's rapid rate of increase,
:29:39
accordingly the slowdown in the economy,
:29:42
that began in the middle of last year intensified,
:29:44
perhaps even to the point,
:29:46
of growth stalling out
around the turn of the year.
:29:48
As the economy slowed,
equity in prices failed,
:29:52
especially in the high tech sector,
:29:54
were previous high evaluations
were being reevaluated,
:29:59
resulting in significant losses
in some investments.