A Fine Mid-Morning Tuesday Update - Early!

Posted 2007-04-24 09:21
by Karl Denninger

As a prelude to what's certain to be an interesting data release this morning at 10:00, I simply quote the following:

" Declines in home prices in 20 U.S. metropolitan areas accelerated in the 12 months ended in February, a private survey showed today. "

Annual declines at rates not seen in 15 years...... the slide is continuing and, in fact, accelerating.

Wow!

Inventory down 1.6% from February, 7.3 month supply. Sales pace down BIG.

Condo sales flat, single family homes down 9.5%. They're trying to blame it on the weather, of course.

The NAR is saying this is a "very sharp drop."

Duh.

Consumer confidence is 104, which is also down sharply.

Confidence was down in 8 of 9 regions. Mote important note: Jobs not seen as plentiful now.

Is the canary singing... or has it keeled over dead?

Everyone was hanging their hat on the idea that the housing market has bottomed. Down 8.4% is a bottom? My butt.

This is going to get interesting....

More in a while....

Discuss this entry (registration required to post)

Main Navigation

Full-Text Search & Archives

Archive Access

Blogtalk 3:30 CT Mondays

Items To Look At

Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2012) - The annual 2012 Ticker

Links and Blogroll

Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Looking for "The Best of Market Ticker"? Check out Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

Market Ticker content may be reproduced or excerpted online provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media.