Skip to comments.A Record Drop In Home Prices
Posted on 10/26/2006 12:53:25 PM PDT by GodGunsGuts
The price of existing homes last month fell 2.2 percent, the largest monthly decline in the almost four decades the number has been tracked, according to an industry report released yesterday.
Nationwide, the number of existing single-family homes sold fell 14.2 percent in September compared with September 2005, according to the report from the National Association of Realtors. The number of sales has fallen each month since March.
Prices fell everywhere in the country, with the Northeast and West most affected. Declines were more moderate in the South, which includes the Washington area....
(Excerpt) Read more at washingtonpost.com ...
with the record increase this is fine, my home is still up34% in 1 year
Hey, what's this news about central banks in Europe dropping the dollar and trading in Euro's.
This has been an ongoing discussion going on between many nations. Some of it is just petty/political, some of it is because many nations fear a free fall in the USD (based on our national debt, triple deficits, etc). None of them want to be left holding the bag, should the dollar fall another 30 or 40 percent.
Have you heard that as a fact?
Fewer McMansions sold this month than sold last month, so the "average" price of all houses sold this month has gone down.
"Lies, d@#m lies and statistics."
The MSM is slipping. That should have been, "women, children and minorities most affected." Some editor is going to get fired over this.
Go figure... People are speculating in the stock market, rather than making housing unaffordable. So long as this doesn't develop into an all-out, economy-wrecking crash, I'm happy.
Maybe Toddler should have bought some gold last week. :^)
Fewer sales doesn't mean a decreasing average, or have any effect on average other than making it more volatile.
The folks that can afford early retirement are already moving. Look for prices to increase in the south and southwest, especially states with no state income tax (texas, florida, nevada)
Toddler and Co. have backed themselves in a corner. They won't be buying gold any time soon. But the blood will most certainly run out of their collective faces when gold resumes its next leg up.
More nonsense you keep repeating but can never justify. Just like your babbling on about the fundamentals driving gold. Our annual national debt is just 2% of GDP. Historically, it's averaged about 2.7%. You've also never been able to explain -- at least not in any way that makes sense -- how the triple(?) deficits will cause the dollar to drop. Care to try again, or are you tired of being shown to have no idea what you're talking about?
should the dollar fall another 30 or 40 percent
Another 30-40%? Against what currency and over what time frame? Has the government not been able to sell any of it's debt instruments because of this fear of being left holding the bag?
What chart from goldbug Sinclair will you be using today?
I'm doing well, thank you very much! :^)
Yeah, a record drop after a hugh record rise. Come on, let's get series here.
WoW! Look at that dollar go!