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U.S. Housing Chill Grows

topic posted Thu, September 27, 2007 - 9:45 AM by  Viking
The housing market is going into a deeper chill, and consumers are starting to shiver.

Sales of existing homes in August fell sharply, and home inventories by one measure soared to an 18-year high, according to data released yesterday. One major home builder, D.R. Horton Inc., is auctioning homes this weekend with starting prices for some units at 50% off an earlier price.

The housing market is worrying consumers, raising fresh concerns about economic growth. Consumer confidence fell this month to its lowest level in almost two years, a new survey showed. Retailers such as Lowe's Cos. and Target Corp. said they're feeling the pain. Both reported softer-than-expected sales Monday

Read more . . . www.realestatejournal.com/buyse...y.html
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Viking
offline Viking
SF Bay Area
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  • Re: U.S. Housing Chill Grows

    Thu, September 27, 2007 - 10:18 AM
    auctions at 50% what a wonderful opportunity...the question is what is the final price a qualified buyer is willing and able to afford given that the quick acceleration of property values is currently not there.....

    still an incredible opportunity! yes?
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    • Viking
      Viking
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      Re: U.S. Housing Chill Grows

      Mon, October 1, 2007 - 11:06 AM
      } ...the question is what is the final price a qualified buyer is willing and able to afford given that the quick acceleration of property values is currently not there.....


      I think now is a good time to buy. Because, honestly, baring the total collapse of society™ house prices will go up again at some time. And the volume of good properties available give you plenty to choose from.
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