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BusinessWeek: Housing Meltdown - Why home prices could drop

 
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Location: Greater Boston
PostPosted: Sun Feb 03, 2008 4:55 am GMT    Post subject: BusinessWeek: Housing Meltdown - Why home prices could drop Reply with quote
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Description: BusinessWeek: Housing Meltdown - Why home prices could drop 25% more on average before the market finally hits bottom
URL: http://finance.yahoo.com/real-estate/article/104340/Housing-Meltdown;_ylt=An_sVS ...truncated...
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PostPosted: Mon Feb 04, 2008 5:43 am GMT    Post subject: Reply with quote
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In November, Lennar (LEN), the big builder, sold 11,000 home sites to a joint venture it formed with Morgan Stanley Real Estate for $525 million, 60% below what they were valued on Lennar's books.
That's capitulation, and it's likely to occur more often as sellers get the idea that waiting won't solve their problems.


Capitulation , great word , surprised
this word hasnt been used more often

If Capitulation occurs , we are all in trouble Rolling Eyes
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Shoeshine.
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PostPosted: Mon Feb 04, 2008 5:49 am GMT    Post subject: Reply with quote
Quote:
David N. Weil predicted that home prices would decline by 47% after inflation over the next 20 years, based on a shrinking pool of potential first-time buyers and an expectation that baby boomers as a group would spend less on housing as they grew older.


The aging of America , is going to crush single family home prices

And if we ever stop letting illegal immigrants in
the United States, the housing situation could become
one big Detroit where the median home prices
has reportedly dropped to $ 49 K Exclamation


Yikes Exclamation Exclamation Exclamation

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