The continuing sound of the real estate bubble bursting...
More on this to follow, but:
Sales of existing homes plunged in March by the largest amount in nearly two decades, reflecting bad weather and increasing problems in the subprime mortgage market, a real estate trade group reported today.
In a campaign season - when the economy is front and center - these releases receive extra scrutiny and play a larger role in news cycles.
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For those interested in this subject and who have not yet stumbled on his blog, I recommend Calculated Risk.
April 24, 2007 8:29 AM | Reply | Permalink
The Housing Bubble Blog is another one to check out if you are interested in watching the housing market.
Satellite Sky Blog
Find the Truth. Do Justice.
April 24, 2007 5:43 PM | Reply | Permalink
I find the news about all the doom in the real estate market interesting. I think it really depends on your neighborhood more than the overall market. The price of my home hasn't gone down at all, in fact it may have gone up a little lately. That isn't as good as it was during the boom, it was appreciating much more significantly and that has slowed, but it hasn't gone down. If it went down 50%, I'd still be way ahead of the game.
Jim Anderson
The Truth About Credit
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April 25, 2007 3:23 PM | Reply | Permalink
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April 25, 2007 8:13 PM | Reply | Permalink