Monday, Jan 28, 2008
Looking grim in the States
BBC NEWS: US home sales fall at record pace
Sales of new US homes fell at a record pace in 2007, figures from the US Commerce Department have shown.
The number of new homes sold sarimnk 26.4% to 774,000, which beat the previous record fall of 23.1% set in 1980.
Posted by tick tock @ 03:58 PM (493 views) Add Comment
3 Comments
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1. little professor said...
Ouch!
Expect similar drops here 6-12 months down the line.
2. alan said...
"It's a pretty big drop and it clearly shows the housing market continues to deteriorate," said Kurt Karl, chief US economist with Swiss Re".
Well, can Dubya make everyone feel good about it in his final "State of the Union" address?
3. converted lurker said...
Thats a huge fall, probably 10 jobs for every house not sold, 2.5mil extra on the US version of the dole?