HP MESSAGE TO THE MAINSTREAM MEDIA - WHY THE F*CK DO YOU EVEN BOTHER QUOTING THESE HACKS ANYMORE? IF YOU DO, AT LEAST MOCK THEM WHEN YOU'RE QUOTING THEM!!!
Good god, seven straight months and seven straight lowerings of their forecast. How many more months will this go on? 10? 20? 50? Idiots. They must be paying Yun a lot to look like such a total fool. Career-ending move Lawrence. Good luck with this disaster on your resume...
Realtors Group Foresees 8.6 Percent Drop in Existing Home Sales in 2007
A trade group for real estate agents on Tuesday lowered its forecast 2007 existing home sales for the seventh-straight month, predicting a drop of 8.6 percent from last year.
Next year, the trade group expects existing home sales to climb to 6.3 million. It forecasts new home sales will fall 24 percent to 801,000 this year and 741,000 next year.
"There's been an unusual hit to home sales, starting in March when subprime problems emerged and more recently when problems spread to jumbo loans, with many potential buyers on the sidelines," said Lawrence Yun, NAR senior economist, in a statement.
Yun said that the jumbo loan market is "beginning to settle"