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U S Housing Market Not Looking Good

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Someone buying a 2 bed flat in London at the moment could be a king in America registering the highest price paid for a house in the whole of the USA :o

http://www.zerohedge.com/article/rosenberg-explains-why-not-one-new-home-priced-over-750000-sold-july

Rosenberg Explains Why Not One New Home Priced Over $750,000 Sold In July

The most damning words on the recent horrendous housing data come from David Rosenberg: and since he has long been spot on in his macro observations, the 15% or so in additional price losses anticipated, will make this depression a truly memorable one (we will investigate not only the surging supply side of the housing equation, but the plunging demand side in a later post), and will leave the Fed with absolutely no choice than the nuclear option: "If the truth be told, if we are talking about reversing all the bubble appreciation that began a decade ago, then we are talking about another 15% downside from here. The excess inventory data alone tell us that this has a realistic chance of occurring...The high-end market, in particular, is under tremendous pressure. In fact, it is becoming non-existent. Guess how many homes prices above $750k managed to sell in July. Answer — zero, nada, rien; and for the second month in a row."

Rosie%20housing%200.jpg

Existing%20HOmes%208.24_0.jpg

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The US is returning to normal price:earnings relationships in the market whereas we continue to suffer with a grossly distorted market that the government, in collusion with the banksters, are doing everything to prop up. It is as if the future of the Briotish Empire rests upon continuing HPI. What a sad bunch of fools we have runnng our country who cannot see that you need to eradicate the disease before you can make the patient well again.

Edited by Realistbear

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Déjà vu

I felt sure I'd read this before :P:lol::lol:

Although I would like to know just how many new builds where up for sale at over $750k. If there was only 1 house then it's not really an amazing stat. If there are 100k then it is. Also are homes valued at $749k, $739k selling?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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