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Cancellations, Yet Again

Posted on June 04, 2008

First, the outlook for housing is negative. Just because I mention a few minor shreds of good news for housing, doesn't mean my view has changed. It hasn't, especially for existing home sales and prices.OK, for those hoping to buy at lower prices, the outlook is rosy. Now that we ve gotten the semantics out of the way, the overall outlook remains negative for house sales and prices. With tighter lending standards, demand will remain weak, and supply is already at record levels and still rising - especially the supply of distressed homes. This record supply, combined with continuing weak dema...

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existing home sales , housing , new home sales