Housing Doom Housing Bubble Blog

The Washington Post reports this morning:

HOME SALES FALL IN 38 STATES

Sales of existing homes fell in 38 states during the summer, led by steep declines in Nevada, Arizona, Florida and California, as the once-booming housing market showed further signs of a steep slowdown.

The National Association of Realtors reported that sales dipped to a seasonally adjusted annual rate of 6.27 million units nationwide, down by 12.7 percent from the same period a year ago.

When you go to the website of the National Association of Realtors (NAR) though and read their press release, somehow the news seems a lot rosier:
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Oops!  Slept in today.  :(  Please refer to Friday’s Op-ed post for lots more good stuff from Jan-Martin, who gets up earlier over in Germany!

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Boy does Dwelling Solutions have a deal for you! I’ll let them explain it:

### WOW $200K BELOW MARKET/ AWSOME [sic] OPPORTUNITY ######

GET $200K CASH BACK ON THIS ONCE IN A LIFE TIME OPPORTUNITY…. THIS HOUSE IS INCREADABLE [sic] AND NEEDS ABSOLUTLY  [sic] NO REPAIR. LOCATED IN THE PRESTIGIOUS CIRCLE G RANCHES NIEBHORHOOD [sic again] IN CHANDLER. [AZ] INCLUDES A 1,200 SQFT GUEST HOUSE AND AN AMAZING BACK YARD WITH POOL.

PRICE $1,000,000
custom built (3,500 Sqft)
Guest house has (1,200 Sqft)
6 bedroom
4 baths
4 car garage
Pool
CONTACT GORDON AT: 480-XXX-XXXX
EMAIL US AT: XXXX@hotmail.com

Here’s a picture of the house- I thought it looked nice [IE7.0 users may have difficulty loading picture]:
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