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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