The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Giordano Bruno who wrote (37623)	4/26/2011 9:45:07 AM
From: John	Read Replies (2) of 71475

Home Prices in 20 U.S. Cities Decreased 3.3% From Year Earlier bloomberg.com excerpt: Residential real estate prices dropped in February by the most in more than a year, a sign the U.S. housing market is struggling to stabilize. The S&P/Case-Shiller index of property values in 20 cities fell 3.3 percent from February 2010, the biggest year-over-year decrease since November 2009, the group said today in New York. The decline matched the median forecast in a Bloomberg News survey. Increases in foreclosures are adding to a growing inventory of unsold homes, which may further depress prices and dissuade potential buyers anticipating even cheaper dwellings. Declining property values also limit construction and restrain consumer spending as homeowners have less equity to borrow against. “We see weakness in home prices nationally in the first half of this year because of the large pipeline of foreclosures,” said Michael Gapen, a senior U.S. economist at Barclays Capital Inc. in New York, who correctly forecast the drop. “The speed of the economic recovery will be more moderate given the state of the U.S. housing sector.” [...] With unemployment close to 9 percent, home values declining and a swelling supply of unsold properties, confidence among U.S. homebuilders fell in April. The National Association of Home Builders/Wells Fargo sentiment index declined to 16 from 17 in March, the Washington-based group said last week. Readings below 50 mean more respondents said conditions were poor. --- "...speed of the economic recovery will be more moderate..." LOL. There never was a "recovery". The "recovery" was only Ben and the government cronies creating an artificial pumping action.

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