Relevant:
2008-10-24 — ml-implode.com
"HOME SALES TUMBLED IN SEPT posting their largest one month fall in a year. Today’s NAR Existing Home Sales numbers released showing sales up 5.1% were ANNUALIZED, which is not how you have to look at this dynamic market. Month over month reflects the truth about this market. Sept 07 was before the ‘new normal’. The past two months are highly troubling and a leading indicator of more downward pressure."
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Comments:
tvsterling at 21:54 2008-10-25 said:
Most Americans can no longer really afford a decent house. They also have become too sophisticated to chain themselves to a financial anchor & then throw themselves into the sea. That would be a preposterously over priced house on Snidley Whiplash Mortgage terms. The trends in the article only confirm this. The NAR's cooked up books are only Snidely's feeble attempt to continue the charade for a few more months. Trying to stand in the way of this correction is like trying to stand in the way of an Abrams Tank. Permalinkadd a comment | go to forum thread
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