U.s. Foreclosure Filings Rise 62% In April

[Confounded]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

``There are still a lot of foreclosures, but anecdotally there have been so many that some of the counties are having trouble keeping up with the filings.''

but

"The 2007 median price for an existing home likely will decline 1 percent to $219,800, the National Association of Realtors said last month"

"the first drop since the real estate group began keeping records in 1968 and probably the first decline since the Great Depression."

[Willy Weasel]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

``There are still a lot of foreclosures, but anecdotally there have been so many that some of the counties are having trouble keeping up with the filings.''

but

"The 2007 median price for an existing home likely will decline 1 percent to $219,800, the National Association of Realtors said last month"

"the first drop since the real estate group began keeping records in 1968 and probably the first decline since the Great Depression."

The U.S. median home price tumbled to a two-year low in the first quarter as prices fell in almost half of U.S. cities, the National Association of Realtors said.

The median price for houses and condominiums slid 1.8 percent to $212,300 in the first three months of this year, the lowest since the first quarter of 2005 when it was $199,700, the Chicago- based real estate trade group said. The median price for a single- family home fell in 62 of the 145 metropolitan areas the group studied.

[Goldfinger]

``It's not just homes that are in poor areas or valued less going into foreclosure,'' said Blomquist. ``The problem is widespread.''

Dang it. I thought the problem was contained?

[sonia]

I wander how much of an effect the US downturn is going to have on the UK. The speculation of other parts of the world being affected has started.