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- The Goal Of Home Ownership Has Turned Out Disastrous
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Some housing bubble news from Wall Street and Washington. AP, “Homebuilder Centex Corp. reported a loss of $911 million in its fiscal fourth quarter, as sales tumbled 37 percent and the company wrote down the value of unsold homes. To revive sales, Centex cut its average selling price 15 percent. The average selling price of a Centex house fell to $267,953 from $315,157 a year ago. Still, home closings declined in every region of the country. CEO Timothy Eller called this ‘the most difficult housing market in decades’ and said the outlook remained weak.”
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Original Source: thehousingbubbleblog.com
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1 May, 2008| housingblogs |
@ 19:18