Friday, November 02, 2007
The Brutal Facts
Industry Trade Newletter, Real Trends summarizes the current market as follows:
"Here are the brutal facts of our current situation.
• Unit sales of new and existing homes are down over 30
percent from the peak that was reached in August of 2005;
• The sources for approximately 35 percent of all mortgages
written in the U.S. in the past two years are gone;
• It is likely we will see the first true decline in home values
in the U.S. in the last forty years;
• It is not likely that a sustained recovery will occur
nationally until at least 2009." September, p.11
"Here are the brutal facts of our current situation.
• Unit sales of new and existing homes are down over 30
percent from the peak that was reached in August of 2005;
• The sources for approximately 35 percent of all mortgages
written in the U.S. in the past two years are gone;
• It is likely we will see the first true decline in home values
in the U.S. in the last forty years;
• It is not likely that a sustained recovery will occur
nationally until at least 2009." September, p.11
# posted by Bob @ 5:14 PM 
