New home sales see largest drop since February

MSNBC reports:

There were 568,000 new homes available for sale at the end of the month, a record high, according to the report.

The median sales price of a new home slipped to $230,000 but was still above the median $229,200 price in July 2005.

So over the last 12 months, the owner of T-Bills collected about 4 percent(if not more) plus no payment of property taxes and mortgage interest.Heh,there's not much equity build up the first 9 years of a 30 year fixed mortgage.As far as the interest only people,you know the story.Mr.T-Bills did much better than Mr.Real Estate speculator.Not even close.