What's News - They declined 17.8% from the prior year to 5.03 million, according to the National Association of Realtors. Sales fell 1.5% in December, a record 11th straight monthly decline, to a seasonally adjusted annual rate of 4.02 million, the weakest since November 2010. Surging interest rates flattened housing-market activity.
1 comment:
Prices have barely ticked down, wages are falling further behind inflation, and with stupid Fed policy looking to cause a recession it could get worse. The other part of this is that no one is actually building enough housing to meet demand, and this is likely to continue as a way to keep prices up. As long as house mortgages are the underpinning of the whole US economy we shall continue to be in crisis.
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