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Housing Market Worst in 40 Years - Because of the U.S. Economy Debacle
Based on new home sales, the U.S. housing market hasn't been this bad since 1963. In a time of historically low interest rates, a large inventory of homes for sale, and an otherwise superb buyer's market, people just aren't buying! The height of the market was July 2005 when homes were selling at an annual rate of 1.39 Million. In May of this year, the annual rate calculated at 267,000 - about a 72% decline!
Usually, the Midwest isn't hit as hard as the Coasts, but this malaise seems to... Read more
