I expect home sales and home prices will continue to drop this year because of high unemployment and large inventory of distressed properties. But what do I know? I am not an expert.
The concept of an oversupply is beyond Keynesians.
And a majority of Freepers.
Some here still insist that those who accurately forecast the collapse of the housing bubble and its long term effects are practicing “voodoo.”
There are lot of people from the new home industry who are out of work. This includes, sales people, construction managers, office workers AND especially management. These are people who’ve been in this industry their entire lives. And those over 50 can forget about changing career fields. It’s a lot worse than people think. If Bush was still president the media would be telling us just how bad it really is.