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Article: Housing's hiccups: ready-mix producers will see gains in 2006, despite a slowdown in housing.(Concrete Returns)
- Article from:
- The Concrete Producer
- Article date:
- January 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Hanley-Wood, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At a Rolling Stones concert in San Diego this past fall, fliers were handed out offering condo buyers a new car with the purchase of a unit. This clearly marks a turn from a sellers' market to a buyers' market.
Is the bloom off the housing rose? The business press writes daily about this emerging housing downturn, citing rising mortgage rates, higher energy costs, widespread talk about the risk of a "bubble" in housing, and a surge in the number of homes on the market.
At year-end, 30-year fixed mortgage rates stood about 6.75%, the highest in more than two years, compared with 5.2% in June 2003, which was the lowest in four decades.
The ...