Saturday, March 26, 2011
Because they know QE will bail them out again
America's housing market is again falling but investors appear untroubled. Average prices are now at their lowest since 2002. The volume of new homes being sold is at a record low. After reaching its own peak of 69.4pc in 2004, the level of home ownership has dropped to a current level of 66.6pc. Prices aren't just stagnating; they're still falling. Repossessions account for almost 40pc of all sales, though mainly concentrated in California, Arizona and Nevada.