Here is another report that clearly shows the housing market is weakening and raises additional questions about the risk to the Thompson School District and taxpayers should the District continue to pursue building a $16 million dollar school in High Plains Village at Centerra. From the report: “Recent economic reports suggest a bleaker picture for housing. Existing home sales fell 5.1% in January from December to the slowest pace in over a year. Permits for new residential construction and housing starts were both down and below expectations. Some of the weakness reflects the cold weather in much of the country. However, higher home prices and mortgage rates are taking a toll on affordability. Mortgage default rates, as shown by the S&P/Experian Consumer Credit Default Index, are back to their pre-crisis levels but bank lending standards remain strict.”
Posted on: Tue, 25 Feb 2014 15:42:57 +0000
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