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

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