Forecasting Housing Futures - 2007-01-09
If you're an Average Joe or Josephine, you may briefly look at reports of economic data and wonder about the tangential effect these statistics have on your everyday life. Measures of items such as durable goods orders or the trade deficit may seem pretty distant from your personal budget. That's no longer true with housing indicators, monitored by many people for evidence of a precipitous drop in home prices.
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THE REAL ESTATE DEPRESSION OF 2007 - 2007-01-09
In economics, recessions are usually defined as periods of economic contraction marked by an extended drop in general business activity, typically two consecutive quarters of decreasing real gross national product. It can safely be said that at the start of 2006 America entered into a real estate recession and despite all rhetorical pumping and dumping of real estate inventory by mortgage bankers, brokers, Realtors, agents, builders and developers.
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