New Home Sales Fall by Record Amount

[spinbaby]

Source: AP

New Home Sales Dropped in 2007 by a Record Amount; Prices Posted Weakest Showing in 16 Years

WASHINGTON (AP) -- Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.

The Commerce Department reported Monday that sales of new homes dropped by 26.4 percent last year to 774,000. That marked the worst sales year on record, surpassing the old mark of a 23.1 percent plunge in 1980.

Read more: http://biz.yahoo.com/ap/080128/economy.html

[Demeter]

1. This Isn't News To Those Who've Been Paying Attention

but let it pass.

[earthside]

2. If the Stock Market ...

... had any relationship with the actual reality of average Americans, it would drop a thousand points today.

But between the 'plunge protection committee' and the Fed pumping in billions of dollars to make Bush look good tonight, we'll have to endure a few more days of delusion and denial.

For the real view of reality, take a look at this thread:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2776935

[Tight_rope]

7. I totally agree with you...

Now all America knows that Greenspan was lying for years. I knew long ago.

[Kokonoe]

3. Most new homes are cheaply made and getting worse.

[spinbaby]

4. Tell me about it

We recently saw the new McMansion some friends of ours bought. It was just appalling how cheaply it was built. Give me our old house with solid plaster walls any day.

[Tight_rope]

8. HELLO...all you have to do is install new doors and windows...

make sure the electricity and plumbing are up to todays codes...remodel the kitchen and baths and you are set. Plus you have space to breath. Not waking up to here your neighbor snore all night because his house is so close to yours.

[Delphinus]

9. I need to know how to

soundproof so I don't hear my neighbor's huge 60" with surround sound TV (this is with a two-car wide driveway in between the houses).

I live in a house built in 1955 (or so); the windows are the new ones, but the walls are thin as paper.

[Wednesdays]

5. Worse than 1980?

Wow, fasten your seatbelts...for the next 3 years or more...

:scared:

[Tight_rope]

6. This isn't new news...at least not for me in the past 4 years.