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?

Our ideas can save democracy... But we need your help! Donate Now!