From: taxationistheft2003@lycos.com
Newsgroups: sdnet.real-estate
Subject: Real estate crashing fast
Date: 7 May 2007 10:12:12 -0700
   posting-account=ygrdkQwAAAA4SadqN4pRrvkvCEWIsFil

http://www.marketoracle.co.uk/Article917.html

The real estate market is crashing faster than anyone had anticipated.
Housing prices have fallen in 17 of 20 of the nation's largest cities
and the trend lines indicate that the worst is yet to come. March
sales of new homes plummeted by a record 23.5% (year over year)
removing all hope for a quick rebound. Problems in the subprime and
Alt-A loans are mushrooming in previously "hot markets" resulting in
an unprecedented number of foreclosures.

The defaults have slowed demand for new homes and increased the glut
of houses already on the market. This is putting additional downward
pressure on prices and profits. More and more builders are struggling
just to keep their heads above water. This isn't your typical 1980s-
type "correction"; it's a full-blown real estate cyclone smashing
everything in its path.