Median price of a house to drop? No kidding?
August 26th, 2007 | by Dusty |According to a NYT article the answer is yes. This is the first time since the fed’s started keeping track in 1950. A small blurb from the NYT writeup:
Economists say the decline, which could be foreshadowed in a widely followed government price index to be released this week, will probably be modest — from 1 percent to 2 percent — but could continue in 2008 and 2009. Rather than being limited to the once-booming Northeast and California, price declines are also occurring in cities like Chicago, Minneapolis and Houston, where the increases of the last decade were modest by comparison.
The reversal is particularly striking because many government officials and housing-indu stry executives had said that a nationwide decline would never happen, even though prices had fallen in some coastal areas as recently as the early 1990s.
Sorry but I have to laugh at the experts getting it wrong..reall y, I do 
Does anyone besides me see this as a good thing?
Tags: General, Contributors , BIO, RSSFEEDS, New York Times
