An excellent new blog on housing:
http://MRMORTGAGE.ML-IMPLODE.COM/
Mr. Mortgage picks apart housing statistics to show that the actual supply of California housing is about 4 years at the current pace of sales. This is a huge amount of housing supply. Also the banks are dumping homes on the market, which drives prices down further and puts additional stress on home owners and the financial system in general.
-Stealth
Friday, June 20, 2008
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