Word: unsold
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Lower mortgage rates make houses more affordable, providing support to the reeling housing market. But there's still a giant supply of unsold houses, and prices are still high relative to rents and incomes. So don't expect a big housing rally...
...global sales campaign may be a good idea. In August, the Art Newspaper reported that Hirst's London gallery White Cube had a backlog of over 200 of his unsold works, worth more than $185 million. If the story is correct - the gallery says it's not, but hasn't detailed how many Hirsts it has on hand - it would mean that Hirst has run into that age-old problem of factory production: excess inventory. A few weeks ago Bloomberg.com quoted Robert Sandelson, a London gallerist who has dealt in Hirst, about the "pressure" that overproduction has placed...
...blocks on which one-third or more of the houses have a FOR SALE sign planted in their front yard. The mix of layoffs and a depressed real estate market has forced some highly trained workers to take jobs in other states and leave their families behind in unsold homes...
...from the beach. As the market boomed, the townhomes' starting prices soared to $349,000. A former broker said the units sold quickly, but then closings languished and buyers sought to get out of their contracts. The corporation managing the property changed hands earlier this year, and units remain unsold. Web advertisements indicate that some of the townhomes are available for rent...
...hybrid models are being measured in single digits, says Toyota Motor Sales vice president Bob Carter. About 20% of all Toyota Camrys sold in the U.S. are now hybrids, making them more popular than models equipped with a V6 engine. (Meanwhile, Toyota is sitting on 100-day supply of unsold pickup trucks...