Housing Rebounds Wonderfully!

[Oldguy]

"...Home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday....

....Separately, Commerce Department data showed sales of new homes jumped 15.6 percent to a 4-1/2-year high. The percentage increase was the largest in almost 20 years...."

Thank you, Mr. President, for holding firm against the Republican's, whose policies would wreck the recovery.


Home prices cap year with biggest rise since 2006 | Reuters

 

[g5000]

Rebounds?

Rebounding, sure. It has not rebounded. Not by a loooooong stretch.

But we do appear to be climbing up from the bottom. Finally. I expect a mini boom to follow, barring the Eurozone going up in flames.

 

[Mad Scientist]

"...Home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday....

....Separately, Commerce Department data showed sales of new homes jumped 15.6 percent to a 4-1/2-year high. The percentage increase was the largest in almost 20 years...."

Thank you, Mr. President, for holding firm against the Republican's, whose policies would wreck the recovery.


Home prices cap year with biggest rise since 2006 | Reuters

Is it Americans who are buying those homes OldGuy?

 

[g5000]

I received a HELOC application in the mail last week. I have not seen one of those since the crash.

Wall Street is still up to the same old tricks.

 

[Mad Scientist]

Oh you don't think Foreigners could buy homes in the US? If foreigners are buying the bulk of these houses then what does that say about the supposed US Economic Recovery?

It means that the US is just like The South after the Civil War when carpet baggers came in and bought everything cheaply.

 

[Mad Scientist]

Hey OldGuy, did you know that the Federal Reserve buys 40-80 Billion in Mortgaged Backed Securities every month? Have you ever asked yourself WHY the Fed is doing that?

Did you even KNOW they were doing that?

Guest Post: The Unsafe Foundation of Our Housing 'Recovery' | Zero Hedge

 

[g5000]

Oh you don't think Foreigners could buy homes in the US? If foreigners are buying the bulk of these houses then what does that say about the supposed US Economic Recovery?

It means that the US is just like The South after the Civil War when carpet baggers came in and bought everything cheaply.

What makes you think foreigners are buying the houses in any quantity?

There is depressed real estate all over the planet.

 

[g5000]

There are a lot of investors who have been parking their cash on the sidelines. Just like during the recession of the early 2000s. And just like then, I expect a lot of that cash to go pouring into real estate. That's why I said we would have a mini boom.

It will also go pouring into commodities, driving them up, but that's a separate topic.

Real estate's boom will be probably not as great a scale as the one that preceded the crash, but a boom nonetheless.

So a lot of real estate will be bought through third parties. REITs and the like. But those are purchased for quick turnover.

Ultimately, the houses will end up in the ownership of people buying them to live in. At a slightly marked up price.

Like I said, Wall Street is up to the same old tricks.

Time will tell if they learned their lessons from the last go'round.

 

[DiamondDave]

House values are still down TREMENDOUSLY.. Myself, I am lucky to still be in the black, after going thru a divorce at the peak of the housing market and having to pay out 1/2 the equity to my ex... my house was then valued at close to 500K.. it is currently valued at about 330K

 

[LoneLaugher]

House values are still down TREMENDOUSLY.. Myself, I am lucky to still be in the black, after going thru a divorce at the peak of the housing market and having to pay out 1/2 the equity to my ex... my house was then valued at close to 500K.. it is currently valued at about 330K

Oooh! You are successful! Thanks for sharing!

 

[g5000]

House values are still down TREMENDOUSLY.. Myself, I am lucky to still be in the black, after going thru a divorce at the peak of the housing market and having to pay out 1/2 the equity to my ex... my house was then valued at close to 500K.. it is currently valued at about 330K

That sucks. Horrible time to get a divorce.

It will be a long time before you are back to 500K. Long time.

I feel your pain.

 

[Trajan]

I'd take this all with a grain of salt, a HUUUGE grain of salt, rumors that S&P/CS and a couple of other benchmarkers have been ala the ratings agencies, are not quite cooking, but massaging the indexes/data sets to keep themselves relevant in the midst of a 3 year stretch of contradictory news and counter intuitive events and their inability to truly chart ( there fore explain and predict) what the government "help" ( interference if you ask me) has done to or with the market....*shrugs*

 

[Oldguy]

"...Home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday....

....Separately, Commerce Department data showed sales of new homes jumped 15.6 percent to a 4-1/2-year high. The percentage increase was the largest in almost 20 years...."

Thank you, Mr. President, for holding firm against the Republican's, whose policies would wreck the recovery.


Home prices cap year with biggest rise since 2006 | Reuters

Is it Americans who are buying those homes OldGuy?

What difference does that make? Would you not sell your house to a foreigner if he had the money?

 

[Seawytch]

How is a recovery even possible with all this socialism/Marxism/communism?

 

[g5000]

I'd take this all with a grain of salt, a HUUUGE grain of salt, rumors that S&P/CS and a couple of other benchmarkers have been ala the ratings agencies, are not quite cooking, but massaging the indexes/data sets to keep themselves relevant in the midst of a 3 year stretch of contradictory news and counter intuitive events and their inability to truly chart ( there fore explain and predict) what the government "help" ( interference if you ask me) has done to or with the market....*shrugs*

Drive around your town. Notice all the houses being built in subdivisions that stopped construction a few years ago?

Also, check the housing inventory. It's going down.

 

[Oldguy]

How is a recovery even possible with all this socialism/Marxism/communism?

Didn't you hear? Obama is forcing people to buy houses at gunpoint. (Ooops. Sorry. I mean at KNIFE point. He came and got his own guns!)

 

[Procrustes Stretched]

reality bites

 

[The Rabbi]

How is a recovery even possible with all this socialism/Marxism/communism?

It's called "inflation". Asset values are rising all across the spectrum as people flee devaluing dollars. Watch for more of this.

 

[KnobbyWalsh]

This guy will be happy to hear this!

[ame=http://www.youtube.com/watch?v=lzErDG4CqGw]Bill Tyree - YouTube[/ame]

 

[TruthSeeker56]

"...Home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday....

....Separately, Commerce Department data showed sales of new homes jumped 15.6 percent to a 4-1/2-year high. The percentage increase was the largest in almost 20 years...."

Thank you, Mr. President, for holding firm against the Republican's, whose policies would wreck the recovery.


Home prices cap year with biggest rise since 2006 | Reuters

This is the same "liberal math" that is used for car sales statistics, unemployment statistics, and all other economic statistics.

Home prices, housing starts and home sales PLUNGED to historic lows over the past 6-7 years, and home and property foreclosures reached historic highs during that same time period.

Using these historically "negative" statistics as the "baseline", ANY gain in home prices or housing starts or home sales, and ANY decrease in home foreclosures are hailed as "the biggest rise since (fill in the year)" and "the biggest annual gain since (fill in the year)" and "the percentage increase was the largest since (fill in the year)" and the ultimate FALSE conclusion that "the housing market is on the mend".

This is the inverse of the "liberal math" that is used for "tax decreases" or "spending decreases", where the RATE of a tax increase or spending increase is called a "decrease" in taxes or a "decrease" in spending.

When home prices, housing starts, and homes sales reach the levels they were in the mid-2000s, as well as the low foreclosure rates of the mid-2000s, THEN you can bow down to your Messiah and give him credit (no pun intended).