[lbo-talk] housing bust deepens

Doug Henwood DHENWOOD at PANIX.COM
Tue Sep 25 07:35:44 PDT 2007


NEWS ALERT from The Wall Street Journal

Sept. 25, 2007

Demand for previously owned homes tumbled in August to the lowest level in five years as mortgage-market troubles hurt sales. Home resales fell to a 5.5 million annual rate, a 4.3% decline from July, the National Association of Realtors said. In a separate report, the S&P/Case-Shiller index showed the decline in U.S. home prices accelerated nationwide in July, posting the steepest drop in 16 years.

FOR MORE INFORMATION, see: http://online.wsj.com/article/ SB119072589181638646.html?mod=djemalert



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