Homes sale plunge 11.3 %

[Neotrotsky]

http://www.usmessageboard.com/current-events/98818-homes-sales-jump-7-4-a.html

Who's right?

He's talking about new homes sales, which are a small percentage of the housing market.

Existing homes sales, which make up the vast majority of the real estate market, are up 7.4%.

Criss--"new homes sales" down 13.7% means that the "construction industry" is still in the tank. In fact, unemployment in one of the largest industries in this country--"construction" is at 19.7%. Until new home sales go up--there will remain millions of unemployed in the construction industry.

Existing home sales are up & they mentioned this on ABC main stream news--because 1st time home buyers are taking advantage of the $8000 dollars they get from the American taxpayer--once those subsidies go away--so do these buyers. Along with this we have banks that can sell these properties for dirt, & or homeowners that end up in what is referred to as a "distressed sale" because they have lost their jobs & can no longer pay the mortgage.

Next--we are due for a very large second round of foreclosurers--this time due to job losses in this country. People originally who actually qualified for a loan--could afford the home & are now unemployed. This will be next years "surprise."

Plus, congress extended the home buying credit months ago to April of next year- still no growth
Which only shows that all we did was expediting of future quarter sales and it has not created any real growth

 

[uscitizen]

He's talking about new homes sales, which are a small percentage of the housing market.

Existing homes sales, which make up the vast majority of the real estate market, are up 7.4%.

Criss--"new homes sales" down 13.7% means that the "construction industry" is still in the tank. In fact, unemployment in one of the largest industries in this country--"construction" is at 19.7%. Until new home sales go up--there will remain millions of unemployed in the construction industry.

Existing home sales are up & they mentioned this on ABC main stream news--because 1st time home buyers are taking advantage of the $8000 dollars they get from the American taxpayer--once those subsidies go away--so do these buyers. Along with this we have banks that can sell these properties for dirt, & or homeowners that end up in what is referred to as a "distressed sale" because they have lost their jobs & can no longer pay the mortgage.

Next--we are due for a very large second round of foreclosurers--this time due to job losses in this country. People originally who actually qualified for a loan--could afford the home & are now unemployed. This will be next years "surprise."

Existing home sales are the leading indicator. Existing homes sales have to go up first before the new home sales come back.

And believe me, the buyers aren't going away. Unless the population stops increasing. We added 3 million people to the population last year. Where are they going to live?

I know how much you are praying for America to fail. It isn't going to happen.

Not now that we have competent leadership.

they can't afford to live anywhere without jobs.

 

[Mr.Fitnah]

He's talking about new homes sales, which are a small percentage of the housing market.

Existing homes sales, which make up the vast majority of the real estate market, are up 7.4%.

Criss--"new homes sales" down 13.7% means that the "construction industry" is still in the tank. In fact, unemployment in one of the largest industries in this country--"construction" is at 19.7%. Until new home sales go up--there will remain millions of unemployed in the construction industry.

Existing home sales are up & they mentioned this on ABC main stream news--because 1st time home buyers are taking advantage of the $8000 dollars they get from the American taxpayer--once those subsidies go away--so do these buyers. Along with this we have banks that can sell these properties for dirt, & or homeowners that end up in what is referred to as a "distressed sale" because they have lost their jobs & can no longer pay the mortgage.

Next--we are due for a very large second round of foreclosurers--this time due to job losses in this country. People originally who actually qualified for a loan--could afford the home & are now unemployed. This will be next years "surprise."

Existing home sales are the leading indicator. Existing homes sales have to go up first before the new home sales come back.

And believe me, the buyers aren't going away. Unless the population stops increasing. We added 3 million people to the population last year. Where are they going to live?

I know how much you are praying for America to fail. It isn't going to happen.

Not now that we have competent leadership.

Please detail what fundamental changes have been made in the economy that have had a positive effect based on Obama's leadership?

 

[Chris]

Inventory in the housing market has to disappear before we see any real recovery in the job market. It was the housing bubble that this economy down, it's the housing & construction industry that has to bring us out of this. Until we see a recovery in NEW home sales--we will not see an economic recovery.

As explained in my prior post the reasons for existing home sales going up--are built on a very faulty foundation--"distressed sales"--taxpayer subsidies--& banks selling off toxic assets for "dirt." It's definitely NOT homeowners selling homes for a profit that they in turn buy another home with.

It was not the housing bubble that brought the economy down.

It was the $516 TRILLION DOLLAR derivative bubble.

Criss you really don't read do you?-- There have been many articles covering this current economic collapse for at least a year now. And I think you may know it you just don't want to believe it--because you have so much faith in the federal government & it's policies.

Our government co-signed our names to 50% of the mortgages in this country--using sub-prime mortgages & lowering lending requirements for those loans. Wall Street ate them up--& started trading mortgage backed securities in the black hole called deriviatives. Robert Rubin & Allan Greenspan fully sponsored & supported the derivatives markets on Wall Street even after they were warned that this could cause the economic collapse that we're experiencing right now. In fact, they both are on video apologizing for this huge mistake. Now if the derivatives market just collapsed without mortgage backed securities used as collateral--there would have never been any bail-out of the derivatives market. It would have just been a "cash" loss made by some risky investors.

There is no doubt that all economic woes & roads lead right back to Fannie/Freddie & our governments incompetence in manageing these two agencies.

It was not the housing bubble that brought the economy down.

It was the $516 TRILLION DOLLAR derivative bubble.

 

[Neotrotsky]

Not now that we have competent leadership.

Please detail what fundamental changes have been made in the economy that have had a positive effect based on Obama's leadership?[/quote]


Well he has been the best thing for bringing the conservative and independent base together for a long time

oh wait you said economic

 

[GWV5903]

Existing home sales are the leading indicator. Existing homes sales have to go up first before the new home sales come back.

And believe me, the buyers aren't going away. Unless the population stops increasing. We added 3 million people to the population last year. Where are they going to live?

I know how much you are praying for America to fail. It isn't going to happen.

Not now that we have competent leadership.

Inventory in the housing market has to disappear before we see any real recovery in the job market. It was the housing bubble that this economy down, it's the housing & construction industry that has to bring us out of this. Until we see a recovery in NEW home sales--we will not see an economic recovery.

As explained in my prior post the reasons for existing home sales going up--are built on a very faulty foundation--"distressed sales"--taxpayer subsidies--& banks selling off toxic assets for "dirt." It's definitely NOT homeowners selling homes for a profit that they in turn buy another home with.

It was not the housing bubble that brought the economy down.

It was the $516 TRILLION DOLLAR derivative bubble.

Obviously your on drugs, get some help soon.....

 

[Baruch Menachem]

All kinds of crazy with this kind of statistic. One year ago, we were in the hardest part of a sales crash. How are things compared to two years ago?

How much of this is related to an expiring government program? In other words, how much of this is real economic activity, vs a short term handout.

Third, what kind of prices are we seeing on the sales? Two years ago prices were way high. this year, prices are very depressed.

I really would like to see some apples to apples, oranges to oranges comparisons here, rather than heartache to moonbeams.

 

[Missourian]

Total housing inventory fell by 1.3% to 3.52 million existing homes for sale or a 6.5-month supply at the current sales pace.

The national median existing-home price was $172,600 last month, a 4.3% decline from the same month last year.

And a separate report from First American CoreLogic predicts that home prices will continue to fall by 4.2% nationally and bottom out in March.

In the next six months, Detroit home prices are expected to fall 12.7% and prices in metro Detroit are expected to drop 11.4%, the report forecast.

First-time homebuyers purchased 51% of the homes sold in November. That $8,000 tax credit was extended for the first four months of 2010 and expanded to grant a $6,500 credit to move-up buyers.

Existing home sales rise but prices continue to plummet | freep.com | Detroit Free Press

.

Values continue to fall and over half the purchasers are first time buyers.

 

[garyd]

We are up 44.1% over the worst for year for home sales since Carter was president? Zip to do dah. And again the only people being helped out by sales of existing loans are the Banks Obama bailed out...

 

[NYcarbineer]

New homes create impotent jobs for illegal aliens , foreclosure properties are hurting the real Americans .

I think an impotent brain was responsible for the above post.