Predictions From the National Association of Realtors
The Market Ticker ® - Commentary on The Capital Markets
Posted 2007-05-08 10:01
by Karl Denninger
Predictions From the National Association of Realtors
 
Existing home sales 6.29 mil, down from 6.34 last month

New homes, 864k, down from 904k.

Price projection: Projected down 1.0% from 0.7%

All month-over-month from the NAR (the cheerleaders, of course)

BAD BAD BAD!

Now people unable to get qualified!

Gee, how come the forecasts keep coming down?

PS: Note that all of the models used to gauge risk on morgage securitization do not include the possibility of price declines. In other words, those risk models are invalid.
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