Re: Slowing housing ...

In news:dX1Hg.932$C6.204@xxxxxxxxxxxxxxxxxxxxxx,
Allan Smith typed:

Selective snipping of the article & quotes, with no sourcing URL provided
again, Allan?
Why should I expect any degree of credibility from a hack like you.


Sales of existing homes fell 4.1 percent in July, the fourth
consecutive decline, to a seasonally adjusted annual rate of 6.33
million units from a revised 6.60 million unit pace in June.

And let us not leave out:
"National median sales price $230,000, up 0.9 pct vs July 2005"

"This is another step down on the staircase, and we have a number of
steps to go. I'd still use the word orderly, but we keep descending,"

Actually, the quote was/started with:
"It's not surprising that this number would be to the downside; 6.33 million
used to be a very good number but we are down now from a number that peaked
over 7 million. This is another step ..."
And of course you chose to leave out the entire rest of the quote, snipping
at the comma.

Then there is leaving out the statement of:
PETER D. SCHIFF, PRESIDENT OF EURO PACIFIC CAPITAL INC., DARIEN,
CONNECTICUT:
"This is a record that is going to broken every month. Home prices are 20
percent, 30 percent or even double what they are worth. This is just like
what happened with Internet stocks sold for prices that had nothing to do
with their real value. This glut of homes on the market is going to push
prices down and force appraisers to get more realistic. The appraisals were
based on comparable sales made six months ago. It's like appraising Yahoo
today at $200 a share because it once sold at that price."
http://tinyurl.com/hnzoy

Just want to rant with the political economic emotions and selective facts
again?
DanlK, FYI Services Collectibles
www.FYIS.org




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