Business blogger Wolf Richter argues that the current discrepancy between price gains and low sales is unsustainable.
He cites KB Home's reported earnings for the quarter ending August 31, which mirrors the trend for many other builders, where prices of homes sold jumped by 9 percent in average, and even 20 percent in the West, but the number of homes they sold actually declined by 2 percent. “Last time this happened, the housing market crashed,” Richter says.
PB Topical Ref
