Is this the end of the housing recovery? Even talking about an end to government subsidies sends the market into a tizzy
posted on September 21, 2009 at 2:48 pm
The program that gives first time home buyers an $8,000 tax credit is due to expire at the end of November.
The Federal Reserve will talk about winding down its buying of mortgage-backed securities in its two-day meeting this week.
Will that be the end to the rally that saw new-home sales rise 9.6% in July from June? That’s the biggest sequential month to month jump since 2005. And that saw stocks of home builders such as D.R. Horton (DHI) and Lennar (LEN) soar 40% and 66%, respectively, from July 1 to September 21?
Could well be. The signs aren’t good. Read more
