Home prices have not bottomed out yet.

[uscitizen]

Home prices post record drop in October
Median price sinks 3.5 percent from a year earlier, trade group see more price declines ahead.
By Chris Isidore, CNNMoney.com senior writer
November 28 2006: 10:56 AM EST

NEW YORK (CNNMoney.com) -- The price of existing homes sold in October fell for the third straight month and posted the biggest drop on record, an industry group said Tuesday, adding it expects weakness in pricing to drag on into next year.

http://money.cnn.com/2006/11/28/news/economy/homesales/index.htm?cnn=yes

Those darned demos won congress and now look at the housing market!

 

[LadyT]

Yeah!

 

[uscitizen]

Good for the buyers, sucks for those who are trying to sell and can't get what they owe out of it though.
also good for lumber prices and such. 3 months ago a 4X8 sheet of 7/16 chipboard was $15 plus range now it is in the $5 range

 

[Cypress]

Good for the buyers, sucks for those who are trying to sell and can't get what they owe out of it though.
also good for lumber prices and such. 3 months ago a 4X8 sheet of 7/16 chipboard was $15 plus range now it is in the $5 range

Man, I sold my house in Texas in a nick of time: about twelve months ago

 

[uscitizen]

I did not realize you were a texican ?

 

[Cypress]

I did not realize you were a texican ?

Nah, lived there years back and kept my house for rental income. Wasn't born there

 

[uscitizen]

Whew, a relief. although I have known 2 or 3 recovered texicans.

 

[Topspin]

could be close though

New home prices were up over $10,000 in Oct that could be the first sign of the bottom

 

[uscitizen]

Or a sign of inflation....
Or that only the expensive new homes were going unsold or were overbuilt during the end of the bubble ?