Weekly Roundup: Housing market remains ‘depressed’

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.

ACTOR LISTS LISTS CUTS CUTS THE PRICE OF HIS NEW MEXICO RANCH

HE LOSES 1 MILLION PIECES OF PAPER THAT BEAR HIS NAME

IN NEW FIFTH-AVENUE DIGS, LET’S HOPE THIS BUYER HOLDS THE CHEES-Y

ATHLETE BUYS A 4,000-SF LOFT IN CHELSEA–AND THAT’S NO BULL

DEVELOPER WITH A Z CLOSES ON WASSERSTEIN’S 5TH AVE. CONDO AT $3 MILLION OVER ASK AFTER SELLING 15 CPW SPREAD TO TECH WIZ

U.S. PRICES FALL FROM SEPTEMBER TO OCTOBER, THIRD CONSECUTIVE MONTHLY DROP

CASE-SHILLER’S REPORT CONTAINS THE USUAL WEAKNESSES, AMONG THEM

Housing markets will not recover any time soon

Yesterday, investors once again demonstrated how jittery they are as the Dow-Jones Industrial Average plunged 2.49 percent, the euro plummeted, options trading was unusually volatile, commodities fell, reaction to the Fed’s FOMC comments became sharply negative and Treasury yields dropped.

Quoted in the Wall Street Journal,  Keith Bliss, senior vice president with Cuttone & Co., had this to say about the day’s events:

All of a sudden, bad news is pouring out from seemingly every corner of the world.  People are saying, let’s take our long positions off the board and let the rest of the world digest what’s happening here.