Home Sales Crumple, Real Estate Prices Collapse: Is there a crash coming?
Filed under: Business, News | By: Roy
Posted on: September 27, 2007 | 1 Comment
The figures for sales of new homes are really down for August and real estate prices have recorded the largest year-on-year drop in nearly 37 years!
This shows how the US housing market is still suffering and the mortgage crisis is nowhere near over yet.
Economist Pierre Ellis at Decision Economics in New York commented on the credit crunch and home loan crisis in the US housing market by saying:
“For the Federal Reserve, the question is whether this is worse than they really expected and whether it might well be a reason for them to do more pre-emptive easing,”
New single-family homes saw their sales fall a massive 8.3 percent last month and median house prices has also lost 8.3%
Market analyst Sam Kirtley of The Gold Prices Newsletter believes that this housing crisis is far from over: “We see a major real estate crash and recession approaching in the USA and although this current mortgage crisis may appear to be temporary, we think it is only the beginning. The US housing market has been over inflated by cheap and easy credit and been fuelled to extreme heights by the easy a of home loans to investors and consumers. The way in which we think investors can protect themselves from the coming crash is by investing in gold and gold stocks, as we write about on our website everyday.”
Do you think US house prices will continue to fall?
Or will we see a recover beginning in the real estate market soon?
Should investors be flocking to gold and gold stocks to protect their wealth in these uncertain times?
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All you greedy bastards get what you deserve,the banks, mortgage company’s, buyers, sellers and or so called great government we have, everyone is out for them selves. Everyones motto is, How can I get filthy rich, feel good by doing it and screw everyone else along the way. Our Government only wants one thing, Power. Power to drive everyone into the ground on there comand, power to steal, kill, rape. Power to steal from the poor and middle class and put that money in there own pockets, ohh yea, that’s right, there own pockets. Lets pass laws about wearing seat belt for an adult over the age of 21, let’s spend $1,000,000 of hard earned money on a toilet for a space ship. Why don’t write about the trueth? The government has 90% of the americans running in place to survive. Spend, Spend, Spend why don’t you let the stupid american know why?
Screw the housing market, I hope evryone files for bankruptcy. Just remember the answer to your problems are right in front of you, and 90% of american’s are to busy to do anything about it. The rich man’s motto is,If you busy working, you can’t make money. (Translated: If your to busy working, you can’t notice us, stealing your money.)