Blogging Broker

Look at the Foreclosure vs New Home Starts chart — TRULY A SICK HOUSING MARKET.

The Worst September For Home Sales Since 1981.

Keep in mind that about 2/3 of the sales recently have been foreclosures. In a normal market those homes sales would represent sellers that are either making a lateral move, moving up, or downsizing.  In this market it simply means that many people have lost their homes and are doing – who knows what: moving into apts, moving in with relatives, renting another home, or going into the streets.

This is not good folks.