Review of houses for sale in kerry::How Many Puppies Do Chihuahuas Have
Review of houses for sale in kerry::How Many Puppies Do Chihuahuas Have
Kerry E. Grace of The Wall Street Journal has posted an article titled "Case-Shiller Index Shows Sharpest Home-Price Declines in Sun Belt." That means that houses in the area of the Sun Belt are losing value faster than any other area in the United States. The Case-Shiller Index is a quarterly report showing nominal home housing cost. It is based on the repeat sales of single-family homes. Key points in the report include a 20-city sampling that is down 23% from mid-2006. A 10-city sampling concentrates the numbers more increasing the decline to 25%. Past year declines include 18% for 20-city groupings and 19% for 10-city groupings. Overall housing prices have shrunk to 2004 levels. The housing market is almost frozen. To add to the bad news no regions have been able to avoid declines and additionally, the 10-city grouping has shown a decline for the thirteenth straight month. The Case-Shiller Report data was released on the heels of government news that sales of previously occupied homes dropped 8.6%. The reason that there has been such a drop is that credit is extremely tight and the future looks bleak so people are hesitant to change their situation if they are surviving. In my situation the credibility of this report has hit home in three different situations. My good friend wanted to sell his house to move to a different neighborhood more conducive to retirement. He had a buyer but the buyer had to wait for his house to sell. The person buying his house had to wait for his house to sell. All of these people had immaculate credit and finally had to do some "self-funding" to accomplish the sale. My mother-in-law had a house for sale at a very reasonable price but had to lower the price a couple of times or be stuck with annual maintenance and taxes. Finally, a brother-in-law who has been in the real estate business here has relayed that he hasn't had any luck with a sale since October and that is just not enough. The housing market is where lagging economies seem to show up. It is aggravating that these same institutions who won't give credit to help get out of this mess were the same organizations who gave out too much credit to get us in this mess. References: http://en.wikipedia.org/wiki/Case-Shiller_home_price_index http://online.wsj.com/article/SB123064533193442343.html |
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