Editore"s Note
Tilting at Windmills

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September 6, 2005
By: Kevin Drum

HOUSING BUBBLE UPDATE....Via email, a reader points out that the median price for new houses has plunged 14% in the past three months. (The raw data from the Department of Commerce is here. Note that mean prices are also down, though not by nearly as much.)

I really don't know what to make of this. The original source is here, and it's not exactly someone I'd take seriously. Still, data is data, and this is a big drop.

So....take this for what it's worth. None of the usual suspects seem to be pointing to this as a harbinger of doom, but you sure wouldn't expect median prices to be dropping if the market were still bullish, would you?

Kevin Drum 7:45 PM Permalink | Trackbacks

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