what a glorious, glorious sound. it keeps going and going and going!
emily1, do you also hear the sound? it may be possible to own a little box of our own soon!
Condo prices have been in a steeper and more prolonged decline. They fell 5.3 percent in October from a year eralier [sic], the fifth straight decline on that basis. A big chunk of the nation's condos are in markets that were once red hot but have now cooled significantly. The median condo price is now down 7.5 percent from the high reached in June 2005.
[snip]
Still the October sales pace is down 11.5 percent from a year earlier. And the slower sales has led to the glut of homes on the market, with supply rising once again to a record 3.9 million existing homes for sale, up 1.9 percent from September, and 34.4 percent from a year earlier.
maybe it's not a popping sound, but it certainly sounds like air being let out of balloon. sort of like a nice belch and/or fart after a satisfying mexican meal.
Tuesday, November 28, 2006
the lovely sound of the real estate vortex.
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3 comments:
you and i are on the same wavelength. yesterday, i looked at real estate ads for cambridge and providence. the drop in condo prices is astonishing. the bobbleheads keep pumping the line that prices are stabilizing. people forgot the last bubble way too easily.
i can't wait to buy me a $50 condo!
shit, i can't wait to be PAID $50 to to allow someone to unload their condo!
hahhahha!
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