If you want to know where today’s US housing market is heading, then the two graphs shown below say it all. The first is a longer-term at median U.S. home prices from 1990. The recession in the early 90’s shows up as a dip, but nothing in the past 16 years compares to the plunge in 2006, from the peak in 2005. See my Blog on Gold Bullion and the Stockmarkets
The second picture is a housing starts and permits: from July 2005 to November 2006 the trend speaks for itself. The rapid reductions in permits means that the house building speculators are slowing down their building plans significantly. A classic sign of a RECESSION
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