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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: regli who wrote (55258)8/23/2006 4:44:46 PM
From: valueminded  Read Replies (3) of 116555
 
Actually this says it all:

"The median nationwide price of a home sold last month was $230,000, up just 0.9 percent from the same month last year. The median price is the middle point, where half sell for more and half sell for less."

Gee whiz. Prices are still rising - You can convince me of the hard landing when we see significant (>10%) across the board year over year declines - stated another way, if I thought there would be a serious decline, I would sell and rent - I just don't see it happening.

On the other hand, builders as a group, generally tend to get in trouble by overextending and not recognizing downturns early enough.
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