Chris Lau - Seeking Alpha

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Thursday, April 23, 2009

On Housing

Having too much news bombarded at you is a bad thing. One gets confused, paralized, and unable to act. So, let us focus on the one of the three most important factors that matter: U.S. Housing (the two other factors are: unemployment and LIBOR).

Facts:
  • Existing-home sales fell 7.1% from March 2008
  • Since February 2009, they fell 3% (seasonally adjusted annual rate of 4.57 million units).
Details:
  • “Distressed” properties accounted for over half of all transactions in March
  • Discounts on distressed property averaged 20% or more versus traditional homes
Source: http://www.ritholtz.com/blog/2009/04/existing-home-prices-fall-124-sales-drop-71/

More Reading:
http://www.ritholtz.com/blog/2009/04/total-housing-starts-1959-2009/
http://www.calculatedriskblog.com/2009/04/more-on-office-vacancy-rates-and-new.html

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