House prices set to fall by 7% in next two years as credit squeeze bites Goldman Sachs said it expected house prices to fall by 5 per cent this year and a further 2 per cent in 2009. The bank had originally predicted a decline of 3 per cent in 2008 and no further change the year after, but became more pessimistic after economic warning signs.
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NEW YORK (MarketWatch) -- Home Depot Inc. said Tuesday that fourth-quarter profit fell a sharper-than-expected 27% after the declining housing market hurt demand for its building and home goods supplies, and the world's leading home-improvement retailer issued a forecast for this year's earnings that came up shy of analyst expectations. 'We expect 2008 to be another challenging year in terms of the housing and home- improvement markets.' — Frank Blake, Home Depot's CEO
Business - Lender Sees Mortgage Woes for ‘Good’ Risks By VIKAS BAJAJ - Published: July 25, 2007 Countrywide Financial, the nation’s largest mortgage lender, issued a pessimistic outlook of the housing market, helping to ignite a sell-off in the stock market.
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In the Region | Long Island - Higher Price Tags in Montauk - By VALERIE COTSALAS - Published: January 28, 2007 -Two new projects suggest that Montauk may be heading for year-round status.
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