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« New Home Sales Could Be Better Than They Look | Main | Is Your Management Team Prepared for Recession? »

January 29, 2008

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Comments

LJR

Looks like the y axis of the first graph is mislabeled. Shouldn't that read "percent of all houses"?

Bill Conerly

LJR, good eye. That y label for the upper chart should be percent of all non-rental housing.

Thanks, Bill

Tom Canavan Pelham, NC

"and you cannot move housing from areas of excess to areas of demand. "

actually you can and should. On the subject of tear downs, according to the EPA there are about 300,000 a year, each has a median value of $225,000 (apppx) for a total wasted opportunity to recycle, create jobs and help the housing market recover of over $67 Billion.

Contact The Benefactor Project. We want all of the houses America wants to tear down to create jobs and homeownership opportunities for those without them.
Thanks
Tom Canavan
www.thebenefactorproject.com

Wayne Pruner

I agree that inventory of housing needs to be reduced before prices stabilize. Interest rates dropped below 5% today. That should help move some houses. I hope there are some smart investors taking advantage of this opprotunity.
I appreciate your stab at some good news. It's still pretty bleak out there.

Laurence Hunt

Bill Fleckenstein has a nice analysis of this problem. 1. Central bank profligacy created a housing bubble. 2. Too many people bought homes they can't afford. 3. In many cases, home equity is now declining; not uncommonly it is negative for homes purchased at the peak of the bubble. 4. Prices will adjust to what people can afford to pay - that will be lower, and much lower in some regions. 5. Homebuilding will not be a good business for probably many years to come.

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