Wednesday, November 15, 2006

O.C. Home Mortage Defaults over 5,000 Year-to-date

More foreshadowing of a future economic “Alptraum” for Orange County, California?

Prices remain high at an average of $625,000 per home, but the trend is slowly declining.

But how much longer can such high price points be sustained?

According to Mark Mueller of the O.C. Business Journal: "The number of homes sold in the county dropped 24.9% to 2,715 in October from a year earlier. It’s the 12th straight month of year-over-year declines in sales."

.....Did you hear that?

Where is that scary music coming from...?

No comments: