Monday, October 16, 2006

Fed's Yellen: Housing and new "ghost towns" of the West

zimelich drastische worte die den kern aber wohl treffen. soviel dazu das die builder kein "overbuilding" betreiben........

dank geht an mish

The housing slowdown has turned some parts of the Phoenix and Las Vegas metropolitan areas into "ghost towns," where many unsold homes stand empty, Janet Yellen, president of the San Francisco Federal Reserve Bank, said Monday. ....

Yellen said that she heard the ominous description from a "major home builder," who told her that the share of unsold homes in some subdivisions around the two Southwestern cities has topped 80%."Though the situation isn't that bad everywhere, a significant buildup of home inventory implies that permits and (housing) starts may continue to fall, and the market may not recover for several years," she warned, according to the text of a speech delivered Monday at the Hong Kong Association of Northern California in San Francisco. .....

dank geht an housingdoom

kein wunder/no wonder when you look at the situation in vegas.......


mehr grafiken zu vegas / rest of the vegas story


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