National Association of Home Builders

The National Association of Home Builders index continues to fall and its weakness is broad based. The index highlights that periods of extreme weakness tend to correlate with severe weakness in new home sales. According to National Association of Realtors, national median home price is poised for its first annual decline since the Great Depression, and the supply of unsold homes is at a record 4.2 million (see chart on the previous page). Consequently, US foreclosure filings surged 90% in the month of May from a year earlier as more homeowners fell behind on their monthly mortgage payments, according to Realty Trac Inc. “There has been a drag on the economy,” Treasury Secretary Henry Paulson said at a press briefing recently after he testified in front of the House Financial Services Committee. “I do believe that we are at or near the bottom.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)