Real Estate Article

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U.S. Existing Home Sales Drop to Lowest in Four Years

article link

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I don't know much about real estate or stocks, so what does this mean in layman's terms? It sucks for people who own homes because their property value depreciated, but it's good for new buyers because they're getting in for cheap?

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maybe someone non noob can answer that

[jaydub]

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Someone please help me, heh.

[jaydub]

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Someone please help me, heh.

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I was going to but my post was too snarky and nasty even for my standards.

J

[DcifrThs]

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Someone please help me, heh.

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i thought the article was pretty clear...whats the problem??

or is tthis a level?

Barron

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jaydub,

Go ahead and be rude if you'd like, just make sure you explain everything in layman's.

dcifr,

Maybe I'll re-read it. I remember reading the article when I was tired. I know absolutely nothing about real estate, sorry. I guess I'm a moron.

[DcifrThs]

[ QUOTE ]
jaydub,

Go ahead and be rude if you'd like, just make sure you explain everything in layman's.

dcifr,

Maybe I'll re-read it. I remember reading the article when I was tired. I know absolutely nothing about real estate, sorry. I guess I'm a moron.

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median home price fell this past quarter. it fell by less than it did the previous quarter.

some think this means the real estate market is now levelling out and the home prices have fallen enough to bring back the buyers. this may have stabilized prices.

i don't know all that much about real estate buying selling and the methodologies behind the measurements so thats as far as i can go without further research.

Barron

[jaydub]

[ QUOTE ]
jaydub,

Go ahead and be rude if you'd like, just make sure you explain everything in layman's.

dcifr,

Maybe I'll re-read it. I remember reading the article when I was tired. I know absolutely nothing about real estate, sorry. I guess I'm a moron.

[/ QUOTE ]

In layman's terms, RE is crapping the bed. Even the numbers provided by those with a vested interest are ugly. Homebuilders are slashing prices while homeowners watch paper money burn. It may be spreading to non RE which is what is the most interesting question. Do we hit a depression? Recession has been conceded.

This is relevant to major cities excepting NYC's bizarro-verse. I could give two [censored] about any further posters experiences in bum [censored] iowa or some random college town.

I cut down the snarky but will say, if you do not understand the article make zero RE moves in the next few years.

J