The Housing Market Update From AP. Final Word: It's FUCKED.

Posted by Artem Russakovskii on March 6th, 2008 in Stuff

…and I'm not too upset about it. Down, home prices, down!! Read this article for a nice update on the current housing market conditions and the experts' opinions.


Housing Market Spirals, No End in Sight
Thursday March 6, 5:30 pm ET
By J.W. Elphinstone, AP Business Writer
Low Home Equity, Record-High Foreclosures: a Limp Housing Market Looks Even Weaker

NEW YORK (AP) — Nervous homeowners and economic analysts have been wondering how much worse the housing market could get. On Thursday they got an answer: Plenty.

Foreclosures are at a record high. Home equity is at a record low. The housing market is spiraling down with no end in sight — and taking people's sense of economic security …

Read the rest of this article »