Monday, January 28, 2008

Looking grim in the States

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 (837 views)
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3 thoughts on “Looking grim in the States

  • little professor says:

    Ouch!

    Expect similar drops here 6-12 months down the line.

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  • “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?

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  • converted lurker says:

    Thats a huge fall, probably 10 jobs for every house not sold, 2.5mil extra on the US version of the dole?

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