Wednesday, June 23, 2010

Over the sea…

Sales of U.S. New Houses Plunge to Lowest Level on Record

"Sales collapsed a record 33 percent to an annual pace of 300,000 last month from April, less than the median estimate of economists surveyed by Bloomberg News and the fewest in data going back to 1963"

Posted by rumble @ 03:21 PM (2505 views)
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3 thoughts on “Over the sea…

  • When the US sneezes the rest of the world normally catches a cold! We generally follow them in and out of economic cycles and despite stimulus measures, sales are still falling…..gentleman (ladies too) stand by for a summer of very noticeable house price fails here in old blighty!

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  • Wageslavex14 says:

    This was a very predictable result to the end of the stimulus.

    At least the ‘analysts expectations’ were for a chunky 19% drop in sales, but 33% is pretty nasty.

    I expect some new US quantitative easing by the Autumn.

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  • mark wadsworth says:

    Quite bizarre, if you divide the annual figure by 5 to adjust for smaller UK population, that’s even fewer new homes sold than here in the NIMBY heartlands.

    I wonder if the 300,000 total includes the half-finished estate that they sold to the producers of the film “Killers”?

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