Homestead mailing list

[Clansgian AT wmconnect.com]

> >Pending home sales index rises 7.4% in August: NAR
> 

More (thouroughly discredited) NAR blovicating.

What is not stated is how many of those homes are REO's  and the result of 
rising foreclosures.

Also this is for the month of August and are "pending" sales.  That is, the 
escrow is signed but the deal is not done.  In August credit was relatively 
easy to get, it was in September that the credit markets crashed.  What is 
not 
clear is how many of those pending sales will have to be cancelled because of 
no 
available credit.

Just another spin from a ship that is sinking unabated.   </HTML>