Sabri Oncu wrote:
Most U.S. housing indicators have been strong. New house sales fell in Oct, but they'd been rising since February, and are still over 1m units at an annual rate. Existing house sales rose strongly in Oct, and are well above June levels. Builder indexes are strong, and so is mortgage demand. There's talk of saggy prices, like what you recount, but the normally cyclical housing market held up very well during the recession. This will either be vindicated by a broader recovery soon, or it could be a remaining unpopped bubble (like the dollar).Do you have any hard data supporting or refuting the bursting of a housing bubble in the area? Or do you thiink this is just a normal drop in a period of economic hardship?
Doug
