GREG McBRIDE: "Especially in the hardest-hit housing markets, prices are down in some cases more than fifty percent, so you’re already getting a much better deal than anybody’s had. In some cases, for new houses, these things are selling at a fraction of what they were built for. Yeah, prices might fall a little bit further, but I think you have to look at how much the affordability has improved and not worry so much about trying to catch the bottom."
The number of new homes being built dropped in December
FAITH LAPIDUS: Just last week, the Commerce Department reported an unexpected drop in December in the number of housing starts by builders. But there was also an unexpectedly big increase in building permits approved for future construction.
That increase could be a sign of hope, although builders might have also had other reasons. Some may have been trying to get permits approved before building codes changed this month in California, Pennsylvania and New York.
CHRISTOPHER CRUISE: In some cities, home prices are still falling. The Standard and Poor’s/Case-Shiller Index measures home prices in twenty large American cities. By last October, prices were down nearly thirty percent from their peak in the middle of two thousand six.
And some experts believe prices will continue to fall, in part because lenders are now trying to sell millions of foreclosed properties. High unemployment is another reason prices may continue to fall.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25