Existing home sales dropped for the sixth straight month. This is the slowest pace since 2002. In the article, Ian Shepherdson, chief U.S. economist at High Frequency Economics, predicted "worse to come thanks to tighter credit conditions."I talked with a family member yesterday that is contemplating selling her home and she sadly stated that she probably could not sell it for what it was originally bought for. Frankly I do not see the housing market improving anytime in the near future.
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