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Date: July 23, 2010
Subject: REAL ESTATE CATASTROPHE! HOUSING STARTS PLUNGING!


This is
G&G Associates Tax & Financial Consulting
e-Newsletter

REAL ESTATE CATASTROPHE! HOUSING STARTS PLUNGING!

Hotep G&G Readers,

BREAKING NEWS: The industry that triggered this great recession in
the first place is coming apart at the seams ... AGAIN!

The U.S. Commerce Department just reported that all the gains made
in home-building activity since last October have just been wiped
out -- construction of new homes and apartments just fell off the
cliff:

Between May and June, new housing starts plunged 5%. That's an
absolutely astounding annualized rate of decline of nearly 50%.

At this rate, HALF of all home construction -- and construction
jobs -- would vanish in a year!

Plus for companies involved in building condos and apartments,
things are even worse: Their activity plunged 19.3% IN A SINGLE
MONTH!

Bottom line: This could NOT be a more serious blow for the U.S.
economy. After all -- it was the housing bust that drove foreclosures
sky-high and pushed our largest financial institutions to the brink
of bankruptcy in the first place.

This time, with elections just around the corner and voters fed up
with Washington's skyrocketing deficits, Congress is in NO MOOD to
approve another dollar of stimulus -- let alone to blow hundreds of
billions more dollars trying to save big bankers.

The implication of this shocking report could NOT be more clear: The
great double-dip recession I've been warning you about HAS BEGUN!

-----------------------------------

With the economy preparing for that next fall, you need to stay on top of your game and manage your “OWN Finances.”

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Until the next time!
Asante Sana (Thanks)
Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

"Your mind is like a parachute, it only works when it is open."
C. Brown

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