New home sales fall 2 50 year low

Discussion in 'Current Events' started by Mr.Fitnah, Feb 24, 2010.

  1. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    The Obama effect continues

    Economists surprised as new-home sales fall to lowest level in nearly 50 years


    In this photo made Feb. 22, 2010, a sold sign sits outside a new home in Houston. Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.(AP Photo/Pat Sullivan) (Pat Sullivan - AP)




    By Dina ElBoghdady
    Washington Post Staff Writer
    Thursday, February 25, 2010
    Sales of newly built homes unexpectedly plummeted in January to their lowest level in nearly five decades, providing more evidence of the housing market's fragility.

    Purchases of new single-family homes dropped 11.2 percent in January from December to a seasonally adjusted annual rate of 309,000, the Commerce Department reported Wednesday. Sales fell in every region except the Midwest, and the raw number of new homes on the market rose for the first time in nearly three years.

    washingtonpost.com
     
  2. Luissa
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    Luissa Annoying Customer Supporting Member

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    I don't why they would drop, maybe because people can buy foreclosed homes for next to nothing, and existing homes for much cheaper. :lol:

    I guess we could just blame Obama, that is much easier.
     
  3. uscitizen
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    uscitizen Senior Member

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    Who wants to buy all those new homes with poison Chinese drywall in em?
     
  4. Luissa
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    Luissa Annoying Customer Supporting Member

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    :lol::lol::lol:
     
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  5. Modbert
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    Modbert Daydream Believer Supporting Member

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    Damn regulations! Probably some Liberal who got that set up. :eusa_eh:
     

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