Last week we took a look at the fact that more homes have been going into foreclosure than have been selling during 2009. I wrapped it up on this circumspect note:
For all the relief that the spring-summer rally has brought to the real estate bulls, it seems a bit premature to uncork the champagne before that orange line climbs out of the abyss.
The orange line in question appeared on a graph tracking the ratio of monthly home sales to monthly homeowner default notices. To save you some clicking, here it is again:
Man, I wish I have a magic
Man, I wish I have a magic crystal ball and can peek at a housing price graph 2 years into the future. It’s going to be interesting to see how this wacky market will play out in the end.
Btw, there’s spelling typo:
“This smoothed-out graph shows even more clearly the two conclusions that have been discussed hear often”
Damn you, spellchecker! And
Damn you, spellchecker! And laziness!
Thanks for the catch, I will fix it now…
Rich
I also wish I HAD a magic
I also wish I HAD a magic crystal ball and COULD peek at a housing price graph 2 years into the future.
haha, thanks for the
haha, thanks for the correction. I suck at grammar…
I think regardless of how the
I think regardless of how the housing situation unfolds we still are stuck with a week economy for many years to come. More job losses and more defaults
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