Deal of the Century- By Greg Strid

I read a distressing tale in the Star Ledger yesterday.
The article discussed the price-slashing that Red Bank,
New Jersey-based homebuilder Hovnanian engaged in
during its “Deal of the Century” blow-out sale in October.
It is common knowledge that the real estate market is
in a slump, and Hovnanian slashed prices on its cavernous
homes by as much as $100,000 to [...]

Bears take cash…

Mc Mansions to go

According to the Wall Street Journal, auction companies are reporting
that disposals of brand new-homes represent a growing part of their
revenue. This business ultimately comes from builders and developers
who can no longer finance the unsold homes they have constructed.
They lack emotional attachments to the properties they erect, and are
much more concerned with rising inventory levels.
Unlike [...]

House-slide- by Greg Strid

Take my house, please!

The housing market has been cooling off as of late. The sale of single-family homes declined 5 percent from June to July, and are off 11.4 percent from a year ago. Although the national median home price rose 1.5 percent over the past twelve months, there are signs that the frothiest coastal markets are [...]