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Is U.S. Housing Bubble About To Burst? 2005-12-23 13:00:17 (240 weeks ago) Posted By: Intellpuke (Read 2688 times || 0 comments) Americans bought far fewer new homes than expected in November and the number of unsold homes that builders are carrying jumped to a record high, government figures released today showed, further evidence that the sizzling housing market has officially cooled off. The Commerce Department reported today that 1.245 million new single-family homes were sold in November at an annual rate, a precipitous drop of 11.3 percent from October's all-time high and the biggest monthly drop in almost 12 years. Wall Street analysts had been expecting a drop of about 8 percent. "Housing has peaked," said Mark Zandi, chief economist at the online economic consulting firm Economy.com. "And all indications are that sales will weaken further in the months ahead." (story continues below) Your Ad Here Make a donation today to remove the advertisments! This Story Has Been Archived. To read the full story in the archives, please make a donation. Log In Now Admin Functions Edit Story Email To A Friend Email this story to a friend: Your Name: Their Email:   Related Stories (βeta) New Home Sales Drop Sharply For Second Month 2007-03-26 13:26:50 (Score: 48) New Home Sales In U.S. Fall By Record Amount 2008-01-28 16:23:43 (Score: 44) Housing Construction Plummets In October 2006-11-17 11:30:18 (Score: 43) U.S. New Home Sales Fall Almost 15 Percent In December 2009-01-29 14:43:23 (Score: 42) Existing Home Sales Fall For 5th Consecutive Month 2006-09-25 12:37:07 (Score: 42) Existing Home Sales See Biggest Decline Since 1989 2007-04-24 14:32:18 (Score: 41) New Home Construction Hits All-Time Low In U.S. 2009-01-22 15:26:44 (Score: 40) U.S. Housing Market Lurches Lower 2007-07-25 12:08:26 (Score: 39) Existing Home Sales Hit Lowest Level In Four Years 2007-06-25 13:39:15 (Score: 39) New Home Sales Soar As Prices Plummet 2007-05-25 02:39:38 (Score: 39) U.S. Existing Home Sales Hit 9-Year Low 2008-02-25 16:05:24 (Score: 39) U.S. Homes Sales Rise 11 Percent In June 2009-07-27 16:12:43 (Score: 39) U.S. Home Sales At 5-Year Low 2007-09-25 13:48:41 (Score: 38) Home Sales Hit Slowest Pace In 5 Years 2007-08-27 14:57:41 (Score: 37) U.S. Existing Home Sales Fell Sharply In June 2008-07-24 15:25:21 (Score: 36)   Readers Comments Add your own comment. (Anonymous commenting now enabled.)

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