Wednesday, April 11, 2007


"First" of the Day

Realtors forecast first-ever annual decline in U.S. home prices. —MarketWatch Alert

Rex Nutting reports

In its monthly housing outlook, the real estate industry group said tighter lending standards will cut into home sales even further than it had been projecting, driving prices lower.

Median sales prices of existing homes are now projected to fall 0.7% in 2007 before a modest 1.6% gain in 2008, the realtors said....

After adjusting for inflation, real home prices will probably decline for three straight years from 2006 through 2008....

Other housing economists have been predicting falling prices as well.

More bad news for what's left of the middle class, since their homes are their primary assets. Great economy, huh?

Related posts
Yet more news about the dollar (and the global economy) (10/21/04)
Housing starts plunge (4/19/05)
Happy days are here again (10/4/05)


Post a Comment

<< Simply Appalling Home

Atom feed

Weblog Commenting and Trackback by
Blogarama - The Blog Directory

Blog Search Engine

Blog Top Sites

This page is powered by Blogger. Isn't yours?