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?