Housing decline worse than predicted

It seems that real estate sales slowdown and housing price drop in 2007 will be greater than originally forecasted.

Here are the number of new homes sold:
2005 1,280,000
2006 1,050,000
2007 860,000 Projected
2008 700,000 Projected

As fuel prices have gone up as in :- propane, heating oil, and natural gas; houses are becoming more expensive to maintain. I predict that houses far away from the city will decline more in price due to the high price of gasoline impacting commuters.

In other news Toyota reports that it has sold it one millionth hybrid car. Toyota introduced hybrids ten years ago and debunkers laughed at me when I said that hybrids would sell like hotcakes, while SUVs would cool their heels at the car lots.

Back in Jan 2007 when gasoline was under $2/gal I predicted that by July 2007 we would be paying over $3/gal for gas. The debunkers said that PEAK OIL was a hoax, and that gas prices were going down to $1/gal not up. We would soon be swiming in oil. I said July 2007 will determine who is right and who is wrong.