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For the first time in 11 years, no longer is the rate of growth in housing
prices merely flattening...now house prices are actually going down! The USA Today headlined the story "After 11 years, home prices fall."
Here's the Reuters' report:
"The pace of existing home sales in the United States fell for a fifth
straight month in August and prices dropped from year-ago levels for the first time in more than 10 years, a realtors group said on Monday.
"While the report offered a fresh sign of cooling in the U.S. housing
market, the sales drop was not as steep as expected on Wall Street, where economists had looked for the pace to slow to 6.18 million units.
"The report, however, did show prices have begun to drop when compared to the lofty levels of last year. The median price dropped to $225,000, off 1.7 percent from August 2005 and the first annual fall since April 1995.
"In addition, the stock of unsold homes on the market rose 1.5 percent to 3.92 million units. At August's sales pace that represented a 7.5 months'supply, the highest since April 1993."
Here's a brief comment from the financial newsletter The Daily Reckoning: "Tech stocks could go down without doing much damage to the broader economy. You win some; you lose some; that's just the way it goes. But housing is too important to lose. Too many people count their blessings in housing. Too many people depend on it. Too many people have too much of their wealth tied up in the roofs over their heads. And too much of the nation's GDP is linked to the bubbly housing market."
We've spoken to several Mid West realtors in recent days and the tale they tell is worse than that being reported. Once thriving communities are overhung with homes on the sales and rental markets.
"Very soft," is how one lady called the market. Huge new homes need huge loans to buy and cost even more to run, in utility costs and ;local taxes. The crash is coming: our new book called Goodbye America, Goodbye Britain has a chapter on "The coming foreclosure tragedy." Things are going to get a lot worse....
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26/09/2006
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Tables of Truth
Roman Catholic Church versus the Bible. Written by Pat Franklin, a ‘cradle Catholic’ educated at Catholic schools in America.
I read the New Testament for myself (a Catholic version of the Bible) in England in 1981 and saw that Catholicism was not right, but that salvation was by faith in Christ alone. I knelt down in my bedroom and confessed my sins to the Lord Jesus and asked Him to let me be one of His people. From that day I have belonged to Him. This is copyright, and cannot be offered for sale, but I (Pat) urge our readers to print out a hard copy or copies and give them out free to friends and relatives so that the truth of this gets out far and wide. God bless you in your efforts to inform people. Here we have set out some of the main differences between Christianity and Islam. The two are diametrically opposed, with no common ground of any sort and no possibility of any dialogue ever. Compiled by Pat Franklin. Here is the shortest, simplest Table of Truth I have so far devised to prove that the Catholic Church is a false church, not true Christianity - not the church Jesus set up at all ! An ‘aura’ is a distinctive atmosphere as in an ‘aura of mystery’ ; special quality or air around something or someone. But in paranormal, New Age circles an aura is:
- A supposed coloured emanation surrounding someone
- Coloured field around someone’s head https://yeshuaspeople.com/tonghamcf/sermon/5-11-23-why-has-one-nation-been-singled-out-for-such-hatred-israel/
16/10/22 - The Joys and Sorrows of Israel. - yeshuaspeople.com
4/6/23 - This is the Season of The Lord's Return - yeshuaspeople.com
7/5/23 - The Real King Will Soon Come For Us. - yeshuaspeople.com
2/4/23 - The Dramatic Easter Events were the Most Important Since The Creation. - yeshuaspeople.com
2/4/23 - The Dramatic Easter Events were the Most Important Since The Creation. - yeshuaspeople.com
4/12/22 - The Watchman on the Wall. - yeshuaspeople.com
15/5/22 - Jerusalem Future Capitol of the World, pt.1. - yeshuaspeople.com
7/8/22 - Jerusalem Future Capitol of the World, Part 2. - yeshuaspeople.com
4/9/22 - It's Fast Forward to The Last of The Last Days. - yeshuaspeople.com
26/6/22 - If you prove it I'll believe it. Validating the Scriptures. - yeshuaspeople.com
6/11/22 - The United Kingdom is Now Led by Two Pagans and is Increasingly Lawless. - yeshuaspeople.com
13/3/22 - Gog and Magog. - yeshuaspeople.com
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'Behold, I tell you a mystery; we will not all sleep, but we will all be changed, in a moment, in the twinkling of an eye, at the last trumpet; for the trumpet will sound, and the dead will be raised imperishable, and we will be changed.'
1 Corinthians 15:51
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