told ya
 

Plunging home sales could sink recovery

NEW YORK (CNNMoney.com) -- With home sales plunging to their lowest level in 15 years, economists warn that a double-dip in housing prices is just around the corner, threatening to further slow the overall recovery.

Existing home sales sank 27.2% in July, twice as much as analysts expected, to a seasonally adjusted annual rate of 3.83 million units. Much of that drop is attributed to the end of the $8,000 homebuyer tax credit.


get ready for the double dip and this time MUCH lower boys! Sorry Obama - you're on the hook for this one! Its YOUR policies in place, your recovery (or lack of).

Works for me. I missed the trough on the last market dip, I set aside cash in anticipation of a second one. I'm still holding by my stance 6 months ago that the bottom is 8600 on the Dow.

"shared sacrafice"

No one is hoping enough :fury: Hope damn it, HOPE!!!

let housing prices crash. I dont own one yet :hihi:

20% drop by the end of September. Hold tight JD

If we play our cards right and SAVE, SAVE, SAVE, we could all be owning at least AFTER the dust has cleared. :soon:

My parents bought the house I grew up in, in Jamaica Plain back in the 50's for under $10,000.00

Maybe those deals might make a comeback in forclosures? (highly unlikely)