Friday, Oct 26, 2007
US median house prices down 18pc
The Telegraph: The sky has already fallen
The median price of US houses has crashed from a peak of $262,600 in March to $211,700 in September. This is an 18pc drop nationwide.
Yes, the year-on-year slide is still just 4.2pc, but that will soon change as the base effect catches up.
Posted by sold 2 rent 1 @ 11:37 AM (599 views) Add Comment
7 Comments
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1. Jonathan said...
This site is vindicated - it's finally all happening!
2. planning4acrash said...
That's amazing, I understand that the fall in median prices this year is the first time that's happened since the great depression.
3. shipbuilder said...
Looks like Ambrose the bear has his claws out - this is one of the most confident bearish articles in the mainstram press yet on the general economy as well as house prices - from what Ambrose says, we are looking at BIG trouble in the US.
4. bidin'matime said...
Shipbuilder - you put your finger on it - a 'confident bearish article'. How long before the likes of David Smith will be saying "Of course, I had to be careful not to be talking down the markets, but my underlying message was always that the economy was on dodgy ground..."
5. Tangara said...
Spare me the mantra that the “fundamentals” are sound. Credit is the ultimate fundamental.
It's difficult to say more... :)
tangara
6. uncle tom said...
A quote from Churchill seems apt:
" This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning. ”
7. ck one said...
Brilliant crafted piece this, dripping with compelling evidence, no Bull could even start to unpick the arguments. Well done Mr Ambrose, you have kicked a**e!