Sales of existing homes rose slightly for the first time in 9 months, but prices fell. Analysts do not think the bottom has yet been reached: “Given stress in the mortgage market and depressed buyer sentiment, we judge this to be a brief respite and look for sales to fall further,” Lehman Brothers economist Michelle Meyer said. [Wall Street Journal]
More From Consumerist
-
Wall Street Journal Declares End To Housing Bust
-
Valentine’s Day Garden Of Discontent: The 2013 Entries From Proflowers
-
Despite High Gas Prices, Plenty Of Americans Hitting The Highways & Byways This Labor Day Weekend
-
The 2013 Valentine’s Day Garden Of Discontent
-
Apartment Rents Rising Nationwide To Highest Average In Five Years
How does the correction of a price bubble have anything to do with a so-called sub-prime meltdown?
I hope home sales and prices continue to freefall until they get back to a level where an ordinary human can afford to buy one without a jumbo loan.
Keep falling baby! I want to get a house in the next year or two!