Home Sales Down 30%
Sales of existing homes -- as opposed to those non-existent homes -- dropped 30% in July, compared to the number of sales in July 2005.
When the inventory of homes for sale piles up, that's the economy's way of saying, "It's the PRICE, stupid!"
In other words, sellers will soon realize that they are asking too much, and either lower their price or withdraw their units from the market.
Posted by Walter Moore @ 8/24/2006 06:45:00 PM
2 Comments:
Walter, what happened to castles without hassles? is the demise of your burgeoning real estate career
the reason why you've had so much time to sit around in your jammies and bash the poor, the homeless, and the Mexicans?
Great photo. That sums it all up. Maybe your next photo can be of a falling knife. Anyone buying real estate now is catching one.
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