U.S. housing market, another shoe to drop.

More volatile trading expected ahead
Malcolm Morrison, Canadian PressPublished: Sunday, January 21, 2007

"But Wolf said investors are in for some downward revisions to earnings estimates going ahead for the energy sector particularly. "

"Those price assumption that had been embedded in prior projections I think at this point look rather too optimistic."

""But we still believe that there is another shoe to drop, so to speak with respect to the U.S. housing market."

"He said there is a good chance that the weakness will spread to consumer spending later in the year, reflecting a levelling off in consumer wealth that is coming from weaker housing market."

"Construction employment is also worrying, he added." Full Article.