[MooseMan]

More bad news for the Doom and Gloom squad. (i.e. Democraps)

[MooseMan]

Oh yeah, I forgot, BUSH'S FAULT

[stuartcr]

Which thread is correct...this one, or the one earlier that said sales are slumping?

[agrarianlady]

New home sales are up because builders aren't as stubborn as re-sellers, who don't want to "just give away" their "homes". (In other words, they don't want to take less than the house is "worth" based on 2005 levels).

Builders are offering deep incentives and discounts. Much easier to buy new here in Northern VA.

[Bogtrotter52]

"Oh yeah, I forgot, BUSH'S FAULT"

Must be a White House plot. First gas prices going down, now this. And just weeks 'til the elections. A smell a Rovian scheme here. LOL

[dangus]

>> However, this year sales have been falling as mortgage rates rose and the economy slowed. <<

Wow! We jumped from, "The housing market is cooling, which might make the economy slow," (which was a load of cr@p) to "The slowing of the economy has caused the housing market to cool."

BS

There is no slowing of the economy.

[CPT Clay]

What happen?

[ex-Texan]

What happened? The adjustment is only beginning. Builders are offering huge incentives on new homes. Like automobiles thrown in with every purchase, very low interest for five years, and big discounts. Next year, people will be lined up to buy foreclosures.

"Everything is beautiful, in its own way . . ." [Sing along please]

Just one example of what is going on in Maryland: Despite the abandonment of several large condo projects by developers, there is still a huge glut of condos currently for sale - a massive 3 year supply of unsold condos:

Here are excerpts from today's Washington Post:

Wash Compost

"The on-again, off-again effort to bring a luxury Canyon Ranch condominium community to North Bethesda is now officially off, making the high-profile development the region's latest victim of a slumbering condo market that has claimed dozens of projects."

"In the past six months, developers of 31 condo projects with a combined 5,700 units have abandoned their plans, according to Delta Associates."

"Condos are taking much longer to sell, as speculators have all but abandoned the market and buyers have become cautious."

"Despite the scrapped condo plans, there are nearly 24,800 new condo units on the market, up from 19,400 a year ago. Another 25,700 units are scheduled to enter the market in the next three years."

"At the current estimated sales rate of 8,000 to 8,500 units a year, the 24,800 unsold condos represent about a three-year supply."

[ex-Texan]

Here is what is going on in the real world: Huge discounts and all sorts of free goodies. Do you wonder if the people that paid the full price are angry? $ 85,000 in homeowner "equity" just vanished into thin air. Oh, well . . . Nada por nada.