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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (74870)	12/5/2006 8:10:52 PM
From: ild	Read Replies (2) \| Respond to of 110194

My own (bearish) explanation for the average home price to be so high is because it's average. It may well be that higher priced homes have held better and had less cancellations. At the same time sales of cheaper houses and condos, which were subject to flipping or buy to rent, have collapsed. I use this explanation to justify why, for instance, in Orange County median price of a new home is 8% higher than in 2005. ocregister.com

To: Ramsey Su who wrote (74870)	12/5/2006 8:59:36 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

<Looks like they have 612 specs right now. That seems to be a lot for a builder who says they do not build specs.> A total of 585 contracts were canceled in the fourth quarter, so looks like they suddenly became specs after the customers walked. Any idea what kid of deposits were required?