Quote Originally Posted by redGT
I agree with you to an extent but hasn't oil dropped considerably in the past 30 days? I would harldy consider a ~$50 drop in the price of oil an all time high. Statements like these made by the media are also to blame for our current cituation.

As far as the housing market goes. The blame lies between the banks that leant the money and the idiots that actually agreed knowing that they couldn't afford the damn house in the first place.
You do realize even though oil dropped from a high of what 146 to around 96 today, that still is higher than anything a year ago let alone 5 years ago.
The price of oil is still high. Compared to a few months ago, yeah it looks good.

It is still high.