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| General U.S. Discuss, New Home Sales Down at States forum; New Home Sales Plunge in January New York Times , March 1 '07 New home sales off 20% in the ... |
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| American Join Date: Jan 15th, 2007
Posts: 345
| New Home Sales Down New Home Sales Plunge in January New York Times, March 1 '07 New home sales off 20% in the last year, 30% since the peak in summer '05. Inventory of unsold new homes is now 6.8 months' sales. New home prices have declined only 2% nationwide. Forecast: continuing fall in sales of both new and existing homes though 2007. See economicindicators.gov for the latest economic stats. |
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| arrgh, me buckoes Join Date: Jan 14th, 2007
Posts: 2,142
| Re: New Home Sales Down
The RE slump has been expected for some time. I think they tried to plan for it - realized that it's going to be too long a slump for them (RE) to recover any losses in the near future - and so limped through a continuous band-aiding ofthe industry. Now it's here - and so far as I know, we're powerless against it. (Good time to have a few extra bucks - pick up that 20 room mansion on the hill for peanuts!)
__________________ Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it. <Mark Twain> |
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