World Markets Down Sharply

Japan down 10%. European markets down 6%. U.S. down 4.5% at posting.

Recession talk everywhere.

A glimmer of hope: home sales are up 5.5% in September. But…

Even with the gain in sales, prices kept falling. The median sales price has dropped to $191,600, down by 9 percent from a year ago.

Sales growth is nice, but prices need to floor out in order to find a bottom in this crisis.

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