8 replies to this topic

[pdx5]

NEW YORK (CNNMoney.com) -- The slump in home prices was both deeper and more widespread than ever in the fourth quarter, according to a trade group report Thursday.

Prices slumped 2.7 percent in the fourth quarter compared to the fourth quarter a year earlier, according to the report from the National Association of Realtors (NAR). That's the biggest year-over-year drop on record and follows a 1.0 percent year-over-year decline in the third quarter.
[Bankrate.com]


Thank you Mr. Greenspan for creating a nice little housing bubble
with your 1% fed funds rate.


http://money.cnn.com...rices/index.htm

Edited by pdx5, 04 March 2007 - 12:58 AM.

[humble1]

yes, i think it is about time to lay the blame where it shoud be. let me give you a few examples of local papers from here in florida: the headline of the orlando sentinel talks about "owners struggle to keep homes." this paper has a large circulation in the center of florida, an area NOT POOR and which has been doing quite well. the capitol newspaper talks about a storm of homeowners demanding dramatic property tax reduction. of course, this is another snake of the Medusa head of this HUGE and IN PROGRESS collapse of hte housing market. and the nytimes sunday business talks about the ugly facts in the mortgage business. now, if this is a fair example of what is happening around the nation - and i believe it is - then the slump on wall street is not a wall street event but driven by hard and UGLY fundamentals, a story which has JUST STARTED. and, these examples are not about only subprime either.

[selecto]

Hey, Daniel! The heads are all emphasising "sub-prime" as if there is a lead wall between the po' folks and everybody else. Theirs is the "solo cockroach" theory, lol.

All you need to know about hombuilders (and housing) is right here.

Edited by selecto, 04 March 2007 - 11:01 AM.

[endisnear]

Hey, Daniel! The heads are all emphasising "sub-prime" as if there is a lead wall between the po' folks and everybody else. Theirs is the "solo cockroach" theory, lol.

All you need to know about hombuilders (and housing) is right here.

Wow! My ex father in law owned a lumber co. in E. TX...must be eating ..s....t right now.

[selecto]

Yea, I read that the Canadian government is selling trees at two-bits per, just to keep people employed. They are subsidising the industry in other ways also, and the USA is complaining.

[humble1]

howdy, selecto ! good to hear from you and thanks for the interesting link.

[nimblebear]

yes, i think it is about time to lay the blame where it shoud be.

let me give you a few examples of local papers from here in florida:

the headline of the orlando sentinel talks about "owners struggle to keep homes." this paper has a large circulation in the center of florida, an area NOT POOR and which has been doing quite well.

the capitol newspaper talks about a storm of homeowners demanding dramatic property tax reduction. of course, this is another snake of the Medusa head of this HUGE and IN PROGRESS collapse of hte housing market.

and the nytimes sunday business talks about the ugly facts in the mortgage business.

now, if this is a fair example of what is happening around the nation - and i believe it is - then the slump on wall street is not a wall street event but driven by hard and UGLY fundamentals, a story which has JUST STARTED. and, these examples are not about only subprime either.

You sure thats not a chart of the $ dollar ?

[snorkels4]

Hey, Daniel! The heads are all emphasising "sub-prime" as if there is a lead wall between the po' folks and everybody else. Theirs is the "solo cockroach" theory, lol.

All you need to know about hombuilders (and housing) is right here.

Wow! My ex father in law owned a lumber co. in E. TX...must be eating ..s....t right now.

east texas?

[endisnear]

Hey, Daniel! The heads are all emphasising "sub-prime" as if there is a lead wall between the po' folks and everybody else. Theirs is the "solo cockroach" theory, lol.

All you need to know about hombuilders (and housing) is right here.

Wow! My ex father in law owned a lumber co. in E. TX...must be eating ..s....t right now.

east texas?

Yes..remember a few yrs ago when lumber prices were down here...he was losing money....complaining about the Canadians...then the housing boom....lumber skyrocketed....good times...got divorced and lost track of industry....

He actually lost alot of good timber on his personal land, (about 3000 acres) during Hurricane Rita.