Real Estate Plunged After Credit Expired (Duh)

From Yahoo Finance:

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:

Real Estate Looks Worse and Worse (Jan 08)

Condo Sales Dropping Too?

Check out all of my real estate-related articles by clicking HERE.

And while you’re here, join my Insiders’ Club will ya? Why miss my direct, unadulturated commentary and helpful ideas? ¬†Click HERE.

FYI: my professional life I am a financial planner in the Boston, MA area (Medford). Learn more about me HERE and check out my business site, Walnut Hill Advisors, LLC.