Wednesday, July 24, 2013

New Home Prices In Free Fall

Just released data shows that from their recent all time record high, new home prices have fallen over $40,000 in just two months. This is the largest two month decline since Lehman's bankrupcty.

Should be nothing to worry about for those that went under contract in April and are watching their home complete construction while their monthly mortgage payments have now skyrocketed at the same time the value of the home they put under contract is plunging.

Let's hope for these unfortunate buyers that by "tapering" bond purchases, Bernanke actually means doubling down the size of the program.

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