Another blow to real estate

As if things could not get worse now CEMEX is raising concrete prices. This will affect an already battered real estate market by making new homes even more expensive. The reason for the price increase is that fuel prices are much higher than last year so making cement is also more expensive. Talk about concrete reality, things in the housing market are going from bad to worse.

For 2009 I predict that the recession will cause fewer houses to be built than in 2008 as well as banks will be less willing to lend money. This means fewer construction workers will be busy. Expect prices for fuel to ramp up after the election.