In the Captain Obvious Department, CNNMoney reported that home sales plunged after the home buyer tax credit expired:
Any possible housing market recovery hit a snag during the three months ended September 30, as a government tax credit for homebuyers wound down.
Home prices fell only slightly during the quarter, according to a report from the National Association of Realtors (NAR), but the number of homes sold plummeted more than 25%, compared with the previous quarter.
I discussed this many times on this site, and we have talked about the disaster that was the real estate market since I can remember, and even before this site, I was warning retirees to sell their homes during the various “Housing Options” seminars I held in my local area between 2004-2008.
For a particularly fun rant on this topic, check out my past article: