Wednesday, January 02, 2008

How Low Will Houses Go?

Housing prices just keep on a-dropping. "Home Prices Post 18% Annual Drop" screams the headlines. Housing starts at a stand-still. But not to worry, your taxes will stay the same. Nothing from the local rag-of-record. They don't like local bad news- not good for business, I guess.

Realtors are closing offices, foreclosures rates jumping, and for-sale, for-rent signs are everywhere. While mortgage rates may be a-dropping, those qualifying regs are tight. Local builders are closing up shop with lay-off's. Not good.

As my husband says, until you hear those hammers tap-tapping again--- dead economy. And it's spreading. Expect even worse with the new year.
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