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A Record Drop In Home Prices
Washington Post ^ | October 26, 2006 | Kirstin Downey

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 ...


TOPICS: Business/Economy
KEYWORDS: bubble; bubblebrigade; depression; despair; doom; frbubbleheads; gggsalesman; goldsalesman; miserytonight; realestate; tinfoil
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1 posted on 10/26/2006 12:53:27 PM PDT by GodGunsGuts
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To: Pelham; ex-Texan; durasell; djf

ping


2 posted on 10/26/2006 12:55:35 PM PDT by GodGunsGuts
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To: GodGunsGuts

with the record increase this is fine, my home is still up34% in 1 year


3 posted on 10/26/2006 12:57:31 PM PDT by italianquaker (Democrats and media can't win elections at least they can win their phony polls.)
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To: GodGunsGuts

Hey, what's this news about central banks in Europe dropping the dollar and trading in Euro's.


4 posted on 10/26/2006 12:58:03 PM PDT by eyedigress
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To: eyedigress

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.


5 posted on 10/26/2006 1:03:43 PM PDT by GodGunsGuts
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To: eyedigress

Have you heard that as a fact?


6 posted on 10/26/2006 1:04:21 PM PDT by djf (I'm not ISLAMOPHOBIC, just BOMBOPHOBIC!! Whether that's the same is up to Islam!!!)
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To: GodGunsGuts

So what?

Fewer McMansions sold this month than sold last month, so the "average" price of all houses sold this month has gone down.

Big whoop....


"Lies, d@#m lies and statistics."


7 posted on 10/26/2006 1:04:22 PM PDT by pfony1
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To: djf

Just rumors http://today.reuters.com/business/newsarticle.aspx?type=ousiv&storyID=2006-10-26T144946Z_01_WBT006123_RTRIDST_0_BUSINESSPRO-ECONOMY-GREENSPAN-DOLLAR-DC.XML


8 posted on 10/26/2006 1:08:06 PM PDT by eyedigress
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To: GodGunsGuts
Prices fell everywhere in the country, with the Northeast and West most affected.

The MSM is slipping. That should have been, "women, children and minorities most affected." Some editor is going to get fired over this.

9 posted on 10/26/2006 1:09:26 PM PDT by ladtx ("It is fatal to enter any war without the will to win it." -- -- General Douglas MacArthur)
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To: pfony1

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.


10 posted on 10/26/2006 1:09:43 PM PDT by dangus (Pope calls Islam violent; Millions of Moslems demonstrate)
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To: GodGunsGuts; Toddsterpatriot

Maybe Toddler should have bought some gold last week. :^)


11 posted on 10/26/2006 1:10:55 PM PDT by eyedigress
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To: pfony1

Fewer sales doesn't mean a decreasing average, or have any effect on average other than making it more volatile.


12 posted on 10/26/2006 1:14:52 PM PDT by MrShoop
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To: ladtx
another factor to hit home prices in the coming years will be the 78m baby boomers retiring. Its already started and as they retire, they will most likely move to a warmer, cheaper area. The baby boomers will start to hit 63 in 2010.

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)

13 posted on 10/26/2006 1:16:07 PM PDT by sten
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To: eyedigress

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.


14 posted on 10/26/2006 1:17:17 PM PDT by GodGunsGuts
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To: GodGunsGuts
Dow hit a new record;

Oil Price Dropped Again;

NASDAQ at 6 year high;

Durable Goods UP largest amount in 6 years;

Terrible, just Terrible
15 posted on 10/26/2006 1:24:45 PM PDT by Mikey_1962 (If you build it, they won't come...)
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To: GodGunsGuts
because many nations fear a free fall in the USD (based on our national debt, triple deficits, etc).

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?

16 posted on 10/26/2006 1:25:37 PM PDT by Mase
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To: Mikey_1962

I'm doing well, thank you very much! :^)


17 posted on 10/26/2006 1:26:05 PM PDT by eyedigress
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To: Toddsterpatriot; 1rudeboy; expat_panama; nopardons; BeHoldAPaleHorse; Petronski; Fan of Fiat
Goldbug in the house ping.
18 posted on 10/26/2006 1:27:38 PM PDT by Mase
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To: GodGunsGuts

Yeah, a record drop after a hugh record rise. Come on, let's get series here.


19 posted on 10/26/2006 1:28:04 PM PDT by umgud (I love NASCAR as much as the Democrats hate Bush)
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To: Mase

WoW! Look at that dollar go!


20 posted on 10/26/2006 1:28:47 PM PDT by eyedigress
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