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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (351929)	9/25/2007 1:17:24 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 1576881

RE:"The five cities where prices are still rising — Atlanta, Charlotte, N.C., Dallas, Portland and Seattle" They have run out of gas now too.

To: Road Walker who wrote (351929)	9/26/2007 5:44:44 PM
From: tejek	Read Replies (1) \| Respond to of 1576881

The decline in U.S. home prices accelerated nationwide in July, posting the steepest drop in 16 years, according to the S&P/Case-Shiller home price index released Tuesday. Remember what I posted a while back.......Case-Shiller's index covers only certain cities and those are the cities suffering the most right now. I am not by any stretch of the imagination saying things are good.....after all, housing inventory is now approaching levels that have not been seen since the 1988-1991 housing recession.....I am just saying that Case-Shiller's index paints an even darker picture than we already have. Home prices have fallen by more every month since the beginning of the year. An index of 10 U.S. cities fell 4.5 percent in July from a year ago. That was the biggest drop since July 1991. I expect things to be even worse in August and September since very few lenders were providing loans during those months. I am looking for a modest recovery in Oct. The five cities where prices are still rising — Atlanta, Charlotte, N.C., Dallas, Portland and Seattle — have reported growth is slowing in the past year. Atlanta and Dallas are close to moving into negative territory, S&P said. Things are not weakening here. We have more homes on the market than last year but its still a low level of inventory.....three months I think. And according to my sister, New England is experiencing a modest recovery. Shiller, an economist at Yale University, told lawmakers in written comments last week that the loss of a boom mentality among consumers poses a "significant risk" of a recession within the next year. Now that could be.........I always believed that recessions are more about human psychology than anything else.