Hang On To Your House

Home building magnate Robert Toll predicts that future U.S. home prices will climb so high in the next five years or so that the cost will represent 45% to 50% of household income, up from 21% in 2006. The reason, he says, is that zoning boards are becoming so restrictive, there is very little new product being put in the pipeline. This will reduce future supply. The local planning and zoning approval process can take anywhere from three to six years, depending on jurisdiction, he says. Barron's Online

We just returned from Florida...its a buy not a sell!

Look at the numbers in oil: 100 billion barrels is worth $6.3 trillion dollars at today's market price. Iraq will export 1.69 million barrels a day of crude oil in April. Production was 2.1 million barrels. 500,000 stayed in Iraq, the Americas will receive 633,000 barrels, Asia will get 658,000 barrels and Europe will get 400,000 barrels from Iraq.

China witnessed an astonishing 83% year on year slump in crude exports in March. Imports rose 8.8% last month and it is forecast to continue that rate through the rest of the year....use more and export less....it is in "the national interest"...China's policy now is to discourage the exports of crude and oil products. February exports were zero in China.....Watch out!!!

The Dow Jones Industrial Average is up 18 out of the last 20 days. This has only happened twice before....once 15 years ago and the other time was in 1929.

Danny Boy seen here is our protector...he wags his tail to his right when given affection and to the left when on defense....we are staying in our house and looking to Florida.