hardmanb

The WSJ Is Wrong on the Housing Crisis

Interesting analysis by Samora, because it factors in "other" economic and demographic trends in addition to the simplistic "pricing" analyses that are prevalent. Also, it contrasts to the fraudulent and misleading figures of the NRA (National Realtors Association) that reports "sales" on the signing of "contracts", and contract failures have escalated to 40% and sometimes more.

Various factors, such as declining consumer purchasing power; auto financing crisis/defaults; credit card defaults; rising gas prices; declining traditional retirement programs; lack of boomer financial preparation for retirement; and purchasers "waiting" for bigger bargains and waiting for the price decreases to bottom...all also factor in as delaying the recovery of the existing houses on the market.