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]

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  1. swalve says:

    How does the correction of a price bubble have anything to do with a so-called sub-prime meltdown?

  2. goodkitty says:

    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.

  3. synergy says:

    Keep falling baby! I want to get a house in the next year or two!