🚀 go-pugleaf

Nomen Nescio wrote:
> THE VIEW FROM the back patio of Greg Stone's
> three-bedroom house in Reno, Nev., is
> stupendous.
>
> But last fall, when its owners put it on the
> market for $835,000, there were no takers.
>
> For nearly a year, the price sank.
>
> The Stone signed a contract on the home for
> $590,000 - 30% below its original asking
> price.
>
> The Stones' house could be a tombstone for
> the recent real estate boom.
>
> Prices are falling fastest where the boom
> has been most extreme, on the coasts and in
> sunny destinations like Las Vegas and
> Florida. But outside the housing-hype
> spotlight, cities like Reno; Warwick, R.I.;
> and even Boise, Idaho, have experienced
> their own booms - and now their own fizzling
> downturns.
>
> Homes in some markets have become so
> expensive relative to wages that the pool of
> buyers has shrunk.
>
> The most recent boom now looks most like a
> bubble in markets that have shown up year
> after year as the most overvalued -
> especially in Florida and California, which
> account for 24 of the top 25 overvalued
> spots in this year's survey. Now those
> markets may be falling back to earth.
>
> The long-anticipated slowdown has arrived
> with a stench of burnt brake pads, with even
> Federal Reserve Chairman Ben Bernanke saying
> that the housing sector is undergoing a
> "substantial correction."

    The housing market is not undergoing anything
    Since Al Capone STILL controls the entire
    idiot thing and the entire moron US Government.
    just like he did 80 year ago,