Word: glut
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...million annualized--show an industry that, thankfully, doesn't know when to quit; odd, since housing often leads the downhill charge into recession. Construction giants such as Centex and KB Home continue to expand, thanks to consolidation, low mortgage rates and productivity gains. An order backlog means no housing glut this round: spec building has been a no-no since the S&L blowout, and many towns, already sprawling, are now persnickety about development...
...corporate-meeting planners: don't take employees on a ship, and don't serve them fish. But that's just what the cruise-ship industry is trying to do. The industry built a fleet of leviathans in the '90s, which led to a glut and depressed prices last year. So now it has launched an aggressive campaign to grab a piece of the more than $20 billion corporate-meeting and incentive (or employee-reward) business...
...Bernard Baumohl: Well, they look around and see the U.S. and the rest of the world slowing down economically, and they expect demand for oil to slow along with the global economy. So to avoid a glut that could push down oil prices, they're cutting back to keep prices at a level where they still turn a healthy profit...
...Then, in Shanghai proper, they began tearing down old row houses in one of the city's few remaining historic neighborhoods to make way for a giant 230,000 sq m park. Many of the dislocated families are being forced to move 90 minutes away from town into the glut of new suburban housing. Certainly, Shanghai needs green space, but couldn't a less historic district have been leveled...
...your auto lease is coming due, consider buying the car instead of leasing another. You may be able to keep your vehicle for less than the buyout, or residual, value stated in the lease. That's because a glut of cars coming off lease are driving prices lower amid slack demand...