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Tuesday, September 25, 2007

House demand slumps in August in US.

The housing credit crunch seems not to be over given these statistics. At one and the same time prices are falling and also sales, not a hopeful sign.

NEWS ALERT
from The Wall Street Journal

Sept. 25, 2007

Demand for previously owned homes tumbled in August to the lowest
level in five years as mortgage-market troubles hurt sales. Home
resales fell to a 5.5 million annual rate, a 4.3% decline from July,
the National Association of Realtors said. In a separate report, the
S&P/Case-Shiller index showed the decline in U.S. home prices
accelerated nationwide in July, posting the steepest drop in 16 years.

FOR MORE INFORMATION, see: http://online.wsj.com/article/
SB119072589181638646.html?mod=djemalert

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