Home Sales

From CNN "New home sales plunged almost 33 percent in May, the federal government says." Yawzza!!! That is a spicy meatball! What happened? I have no details. This is nuts. Fell by a third?!? I'm going to have to look in to that one.

How much is up to how many homes are in foreclosure? Or, coming out of foreclosure and now sitting on the market depreciating?

How much is bubble price drops and builders not wanting to build for pennies on the dollar? People just can't afford as much home as they once could because they can't get ridiculous loans to cover it any longer.

How much is over building of both homes and apartments? It has been like a race to build apartments here in Houston over the last decade.

I bet none of this has anything to do with "green" building issues. Building codes and lack of supplies for green building is most likely running full steam ahead. I bet it is any way. It takes extra resources to meet these needs, but I just don't think it is the key issues here for slowing things down.

Glad I'm not trying to sell or buy a house. If anything, I wish I could drop a couple bucks off my loan. They never reward honest hard working people for making their payments. Only the people who didn't pay any attention or who deliberately tried to get more house then they can afford are being helped out of debt. Sad. If only I were more devious in my finances. Curs this honest heart of mine.