We expect housing to start slowing the economy this quarter or the next.

If you factor in a slowing economy the number would be larger. The ultimate decider of whether you can make your mortgage payment or not is your job.

[But] houses are exactly the same now as two years ago. There is no 'new economy' when it comes to homes, ... an easy call to make.

People moan and groan, but they still go to the pump and fill up their big SUVs.

People moan and groan, but they still go to the pump and fill up their big SUVs,

We actually think that we're being somewhat optimistic in saying we don't see it spreading beyond that. There will be weakness in retail, for sure, and in manufacturing. But not widespread losses.