New home sales jump

Chris

Gold Member
May 30, 2008
23,154
1,973
205
NEW YORK (CNNMoney.com) -- Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.

New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.

That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.

The news followed other positive housing market reports earlier this month, including a spike in existing home sales, home prices and affordability.

"There are many economic conditions that led to the surge," said Bob Walters, chief economist for Quicken Loans. "But certainly low mortgage rates, huge price reductions on the high inventory of new builds, and the first-time homebuyer tax credit have been instrumental in getting consumers to take the plunge into the real estate pool of opportunity."

Plus, the psychology of the market is changing, according to Peter Morici, an economics professor at the University of Maryland. "The notion that prices will drift down forever is gone," he said. "Now people are thinking the window of opportunity will not be open forever."

July new home sales blast past expectations - Aug. 26, 2009
 
Things are starting to come back.

Jobs are always the last thing to come in a recovery
 
There is that wierd glitch agian where if I post in a thread it gets marked old
 
Things are starting to come back.

Jobs are always the last thing to come in a recovery

Interest rates are very low.

Show me a jump in GDP and then I would say thigs are looking up.

I could increase sales of many products by knocking down a perfectly good structure and rebuilding it....but growth would still be unchanged.

A stimulus does not cause a recovery....at best, it eases the pain of a recession. That was the whole argument over a trillion dollar stimulus....If they really wanted to ease the pain, simply lower taxes and increase unemployment benefits.

But to spend a trillion dollars on pet projects does not create growth....never did and never will.
 
Yes, only idiots would think that investment can lead to profit and economic growth.


The housing thing is a cautiously positive sign. I'm waiting to see how unemployment figures play out before I get my hopes up.
 
Yes, only idiots would think that investment can lead to profit and economic growth.


The housing thing is a cautiously positive sign. I'm waiting to see how unemployment figures play out before I get my hopes up.

Investment?

Wow....what do you consider investment?

Never mind....Your response surporised me as it was such a naive response....but I forgot...this is US Message Board......

My mistake.
 
probably the same stupid people who bought homes before and could not pay for them.. they ain't done yet. :lol::lol::lol:
 
Yes, only idiots would think that investment can lead to profit and economic growth.


The housing thing is a cautiously positive sign. I'm waiting to see how unemployment figures play out before I get my hopes up.

Investment?

Wow....what do you consider investment?

Never mind....Your response surporised me as it was such a naive response....but I forgot...this is US Message Board......

My mistake.


Lol. Yes, it's all about me being naive.

investing: the act of investing; laying out money or capital in an enterprise with the expectation of profit

define:investment - Google Search

Hope that clears up any confusion. ;)

Disagreeing with how stimulus money was invested or whether it was the government's place to do so is a different thing from pretending it wasn't an investment.
 
probably the same stupid people who bought homes before and could not pay for them.. they ain't done yet. :lol::lol::lol:

You mean those victims that lied on their mortagge applications about their incomes knowing they were NINJA loans and wont be checked out? You kow the ones...the ones that took the lower teaser rates knowing dam well the rates may go up but didnt care at the time as all they cared about was the low rate they got....you know...the ones that siad "he told me to lie...and he told me not to read the terms....you know...the ones that Obama called victims?

Those people?
 
Yes, only idiots would think that investment can lead to profit and economic growth.


The housing thing is a cautiously positive sign. I'm waiting to see how unemployment figures play out before I get my hopes up.

Investment?

Wow....what do you consider investment?

Never mind....Your response surporised me as it was such a naive response....but I forgot...this is US Message Board......

My mistake.


Lol. Yes, it's all about me being naive.

investing: the act of investing; laying out money or capital in an enterprise with the expectation of profit

define:investment - Google Search

Hope that clears up any confusion. ;)

Disagreeing with how stimulus money was invested or whether it was the government's place to do so is a different thing from pretending it wasn't an investment.

Fixing roads is not investment..it is MAINTENANCE.

Giving people 250 bucks is not investment...it is MAINTENANCE...allowing them to buy the things they would normally buy if employed.

SO I ask again...what in the stimulus is investment?

What will increase the GDP?

I know....wikipedia cant answer that kind of question.......so maybe you should simply use some knowldge?
 
Investment?

Wow....what do you consider investment?

Never mind....Your response surporised me as it was such a naive response....but I forgot...this is US Message Board......

My mistake.


Lol. Yes, it's all about me being naive.

investing: the act of investing; laying out money or capital in an enterprise with the expectation of profit

define:investment - Google Search

Hope that clears up any confusion. ;)

Disagreeing with how stimulus money was invested or whether it was the government's place to do so is a different thing from pretending it wasn't an investment.

Fixing roads is not investment..it is MAINTENANCE.

Giving people 250 bucks is not investment...it is MAINTENANCE...allowing them to buy the things they would normally buy if employed.

SO I ask again...what in the stimulus is investment?

What will increase the GDP?

I know....wikipedia cant answer that kind of question.......so maybe you should simply use some knowldge?

Well, let's start with the knowledge that I didn't link you to wikipedia. ;) Let's finish with the knowledge of what constitutes an investment. The money that leads to fixing roads and direct cash are both investments in the economy. Maintenance itself is a form of investment. I didn't realize the term "investment" was this confusing.

You aren't really trying to hinge an argument on whether or not a stimulus package is a form of investment are you? I mean, get real.
 

Forum List

Back
Top