Existing Home Sales Came Out Today
"Sales of existing homes posted a tiny increase in October but the median home price fell by a record amount. Analysts forecast more price declines in coming months as the once-booming housing market undergoes a painful correction."
Full article...
New home sales will be reported tomorrow.
Full article...
New home sales will be reported tomorrow.
posted by Little_Silvered at 10:41 PM
6 Comments:
"Analysts forecast more price declines in coming months as the once booming housing market undergoes a painful correction."
Oh no, not here. This is the highly desirable jersey shore, after all. The Wall Street tycoons will keep buying and drive prices higher and higher. As you can see, I prefer to listen to the market pumpers on this blog-rather than the real estate experts.
the pain of r/e correction has not even started!!!!!
we still have gains year over year for the last 9 years!!!
WAIT TILL PRICES ARE DOWN YEAR OVER YEAR FOR 9 YEARS.
Prices are just too high in relation to income. It's gonna be at least 5 years before there is any sign of a pickup in housing demand. In the meantime, how low will sellers go?
Sometimes I just wanna scream.
"WAIT TILL PRICES ARE DOWN YEAR OVER YEAR FOR 9 YEARS."
Is there any rational basis for this comment? People who say that shore real estate will be down 40% by 2008 vs. 2005 prices makes more sense than this idiot. Do you have any sort of valid analysis for that comment?
"Prices are just too high in relation to income."
Prices are too high in relation to my income, but apparently ENOUGH people have ENOUGH income to have raised prices to these levels... Not EVERY house at the shore is currently held by a speculator.
I would rather debate NJCOAST that have my eys bleeding reading this drivel...
Mr Rant:
http://njrereport.com/index.php/2006/11/29/feeding-the-obsession/#comment-52533
Why are you so smug? It can't be the result of your middling intellect or rhetorical abilities.
Candide, indeed.
huh?
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