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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: valueminded who wrote (55277)8/24/2006 1:05:15 AM
From: regli  Read Replies (1) of 116555
 
In RE it is difficult to find detailed nationwide statistics. I base my statements on extensive readings of articles related to RE from various publications, websites and blogs.

A good analyst has to collect information from various sources and assemble a picture. I attempt to do that as unbiased as possible. Given the latest news, sentiment on housing simply has to sour which will highly likely accelerate the downturn. I think that the quote of Bob Toll in my post to you is quite telling in that the impetus for the decline this time round was not externally driven.

Looking at major builder's stock performance should be enough cause for worry by itself. The nationwide sales declines reported today should only add to that anxiety. Then add in that Danville, IL (not exactly bubble country) had the biggest price decline of any city in the country and a worrying picture emerges.

You recently mentioned Atlanta and if you haven't read Mish' blog about it, I really encourage you to do so. Atlanta does not look healthy. Let's see what August and September bring for that area.

Even housing tracker doesn't paint a very optimistic picture:

benengebreth.org

Trend	     08/21/2006	      1 month	3 month	6 month	12 month
Median Price	$201,900	-1.5%	+0.5%	+3.5%	+6.3%
Inventory	45,420	        +2.0%	+5.0%	+22.2%	+20.9%
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