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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (21589)	1/17/2005 4:55:37 PM
From: CalculatedRisk	Respond to of 116555

Look at the internals in the OC housing report (previous post): 1) For the ninth month in a row, sales were lower than for the same month a year earlier. 2) Median resale price for single family homes was down 5.4% from the May peak. 3) Median condo price off 3.7% from the May peak. 4) Total Sales off 10% from last year December. Housing is slowing down.

To: CalculatedRisk who wrote (21589)	1/17/2005 9:00:47 PM
From: SouthFloridaGuy	Read Replies (2) \| Respond to of 116555

Just musical chairs going on in the housing market right now. My father did the this recently. Figures that he can sell his $500k home for a $300k profit (5 years owned) and move to an $800k home. Puts $100k extra down and his mortgage is only $400k. Monthly payment stays within his means and he "swears" he's not moving anymore. A rather stupid way of looking at the world, but hey, that's why I make 5 times more than him at 30 years of age and am quite happy paying rent and driving a used car that does 35 mpg.