Monday, September 05, 2005

Cracks in the Housing Bubble

Interesting little article about the possibility of cracks in the housing bubble.

"When the new statistics on new home starts and pricing came out last week, the good news was overwhelming. Housing sales were up 6.5% "to break yet another record," reported WSJ.

So what did everybody miss? Namely, one small detail that tells more about the housing market than most statistics ... and very possibly is the first crack in this enormous real estate bubble. Get this:

The median price of a home fell in July by a whopping 7.2%"

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