The medium home price in US is only $212,800! Alberta is damn too expensive.

smalltown

Existing Home Sales Rise in February but Worries About Subprime Lending Increase


" I& A8 S6 l- Q& jWASHINGTON (AP) -- Sales of existing homes unexpectedly rose in February by the largest amount in nearly three years, but analysts expressed fears that the recovery for the battered housing industry will be slowed by spreading troubles in mortgage lending.
ADVERTISEMENT


+ q' e8 s9 ?) H0 hThe National Association of Realtors reported Friday that sales of existing homes rose by 3.9 percent last month, pushed higher by a sharp increase in sales activity in the Northeast. It was the biggest increase since a similar increase in March 2004.

The increase pushed sales up to a seasonally adjusted annual rate of 6.69 million units, still 3.6 percent lower than a year ago. Sales fell by 8.5 percent for all of last year as housing hit a sharp slowdown after setting sales records for five straight years.

* s& H- r, y2 d. dAnalysts, who had been looking for sales to decline in February, said the increase reflected warmer weather in the Northeast and Midwest and said that the housing industry is still not on a sustained rebound.

"Sales cannot be sustained at this level, which is way above the pace implied by mortgage applications," said Ian Shepherdson, chief economist at High Frequency Economics.

The price of a median home sold last month dropped to $212,800, down by 1.3 percent from the same month in 2006. It marked a record seven straight months that the median home prime has fallen compared to the same period a year ago.

Analysts said the price declines were helping to lure buyers back into the market. But analysts expressed concerns about what the growing problems in the subprime lending market will do to the prospects for future sales.

5 T. A* Q+ z! L- K& k# {0 r  SSubprime mortgages were offered to people with weak credit histories who could not qualify for standard types of mortgages. Now an increasing number of those mortgages are going into default. That is forcing lenders to tighten up on their loan standards, meaning people who would have qualified for subprime mortgages will not be able to do so.
# T! E! S0 \9 K2 K2 |
, P0 Q5 {( F/ U' `% s1 kDavid Lereah, chief economist for the Realtors, said he believed that demand for homes could be cut by 150,000 to 200,000 annually over this year and 2008 because of the lending troubles.

$ j8 L% `) H% ~) Y/ j; g"Our view is that the tightening in the subprime market will have a negative impact on home sales," Lereah said. "It probably won't postpone the recovery (in housing) but it will slow it."

6 g( [' D' D' ]5 w# p- a9 ?  p# N0 c0 yBy region of the country, sales were up 14.2 percent in the Northeast, a gain that was attributed in part to warmer-than-normal weather this winter, which spurred sales.
$ ~9 t# [% A$ z5 @7 D; h% u! b" ]. ~- d
- g2 S. g' c% B; C2 V7 ]Sales of existing homes were up 3.9 percent in the Midwest and 1.6 percent in the South, while sales were unchanged in the West. Lereah said the reluctance of sellers in the West to trim

xiaopang

如果再算上美国的高收入，税前款买房等优惠，美国人太幸福了。
美国什么都便宜，网上购物方便又便宜，邮费也便宜。
最气人的是从加拿大寄两个同样的包裹，往美国寄虽然距离远很多，但是价格更便宜。
硅谷的房价是贵，但是人家收入高呀。我同学在这里硕士没毕业就找到了那里的工作，初级职位，没有工作经验，10万五加奖金和股票及分红。比这里的大学教授都不少。

xiaopang

爱城的房价虽然贵，但是还是会继续长。