(USA) Housing Collapse Accelerating - By Lee Adler
Posted by archive
By Lee Adler
July 31st, 2008
Source
The housing collapse is now accelerating into a crash. Data from the MBAA shows mortgage applications breaking down last week, hitting a new 5 year low. Listing prices are collapsing all around the country. I did a quick perusal of all the former bubble markets and they are down between 2% and 5% over the past month according to data from Housingtracker.net. That’s the biggest drop I have seen so far.
July 31st, 2008
Source
The housing collapse is now accelerating into a crash. Data from the MBAA shows mortgage applications breaking down last week, hitting a new 5 year low. Listing prices are collapsing all around the country. I did a quick perusal of all the former bubble markets and they are down between 2% and 5% over the past month according to data from Housingtracker.net. That’s the biggest drop I have seen so far.