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It's not a house, it's a home.After dropping like a stone for the past three or four years, existing home prices in the United States went up a little teeny tiny bit in the second quarter of 2009. HOORAY WE CAN REFINANCE OUR WAY TO HAPPINESS AGAIN! So, the sales price of American houses went up by 2.9% between April Fools Day and the end of June, but they also dropped by 15% as compared to a year earlier. Never mind, we’re still doomed. [Washington Post]

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20 COMMENTS

  1. I’m putting granite counter tops in my tar-paper shanty and adding a basin sink. HGTV taught me that kitchens & baths are the key to a profitable flip…

  2. You know what causes home prices to drop? Old beat up cars parked in front yards with weeds growing up through the mag wheels. When the cars were removed via Cash for Clunkers… VoilĂ ! Prices went back up. Obama — still always three steps ahead of us mere mortals.

  3. It’s the siding. Apparently, instead of trading up to better houses, people are putting up siding to make their crappy old shacks look like crappy new construction.

  4. [re=394251]Noonan[/re]: You can get a 15% rent decrease as soon as your landlord gets a 15% cut in his mortgage payment, you freeloading scholiast!

  5. [re=394245]TGY[/re]:
    Oh, stop. You *know* prosperity is just around the corner.

    Yes, just one more Friedman and we’ll be looking at Dow 36,000!

  6. Some of you commie slackers can now probably buy back your old property for about $24.99.Really in some ways it’s a lose lose win situation.Yes, I do know someone who did buy back his old house for half price the price he originally owed and that was 8 years ago when the market was high.

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