March 07, 2008

HousingPANIC Quote of the Day

"Housing is in its "deepest, most rapid downswing since the Great Depression"

- David Seiders, Chief Economist National Association of Homebuilders, March 2008

5 comments:

Anonymous said...

But Greg Swann said there were 21 Reasons to Buy!!!

Anonymous said...

Damn straight

Anonymous said...

Really? I still have not seen prices drop in the counties outside of Philadelphia. Bucks, Montgomery, Delaware, Chester counties, etc. & let us not forget Southern New Jersey. They are STILL high despite a lack of sales.
Owners ARE STUBBORN

k.w. - southern ca. said...

No ... owners/debters are PANICKING.

All it takes is one to realize prices will keep dropping and do the right thing and sell, for a loss, but at least some profit.

There goes the neighborhood.

Anonymous said...
Really? I still have not seen prices drop in the counties outside of Philadelphia. Bucks, Montgomery, Delaware, Chester counties, etc. & let us not forget Southern New Jersey. They are STILL high despite a lack of sales.
Owners ARE STUBBORN

wc said...

By the very fact that there are actually homes in my county that I can afford again I know there have been price drops. And as I was dropping the kids at school this morning - my heart leapt at all the new for sale signs that went up in anticipation of a nice March weekend. Realtors can actually help their communities now by getting people to face the facts - lower the comps back to '01 levels - it will be so much less painful if they do it quickly. Just like ripping off a bandaid.