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The Real Estate Gold Rush Is Clearly Over
Posted on April 25, 2008
The Rocky Mountain News reports from Colorado. The slump in the new-home sales market in the Denver area continues. Experts predict that new-home sales will drop another 10 percent this year, on top of a 31 percent drop in 2007. And with fewer consumers taking out loans because of stricter underwriting standards, lack of confidence in the economy and no sense of urgency, hard times are at hand for formerly highly compensated mortgage brokers. It is tough, said Jeff Willis of Berkeley Homes. Everyone is scaling down as close to the bone as you can get. Mark Levine, dire...
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