EXISTING HOME SALES REPORT Today. HA!

Discussion in 'Economy' started by Neubarth, Apr 22, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    EXISTING HOMES SALES
    MAR 2010 5.35M
    FEB 2010 5.01M
    JAN 2010 5.05 M
    DEC 09 5.45 M
    NOV 09 6.54 M
    OCT 09 6.09 M


    DO YOU SEE OBAMA'S RECOVERY HERE? I don't, and find all they hype for the past year that has been coming out of Washington to border on slapstick humor because it is so damn stupid.
     
  2. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Mortgage rates are going up - and the mortgage restructuring program was a total bust.
     
  3. Truthmatters
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    HAHAHAHAHAHAHAHAH

    We have to work through the backlog of homes folks.

    This was a huge cluster fuck on housing Bush created and its going to take some time for this sector to recover.

    We OVERBUILT folks.
     
  4. Neubarth
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    Neubarth At the Ballpark July 30th

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    Did we overbuild, or are houses too expensive? You are making an assumption and pretending that it is real. If houses were affordable they would be purchased. THAT is the reality, not that we built too many of them. I have five adult children living at home. Why? Simple, they can not afford to buy a house and can not afford to pay rent here in San Diego. Thank heavens I have an 8 bedroom house.

    They would all be buyers if prices were lower. That is a simple truth.

    The raw components of my house would cost 120,000 dollars if I were to buy them. Assuming reasonable labor costs, I could build the house totally for $300,000. So why is a house like mine selling for over half a million dollars? Houses are simply too expensive.
     
    Last edited: Apr 22, 2010
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The heartbreak of historical and economic illiteracy on parade ^^^^.

    This mess was years in the making - and was completely bipartisan.

    Read upon CRA and the Boston Federal Reserve's white paper telling banks to adopt "subjective" lending standards.
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    I heard on Bloomberg News that overall lending is down (9%?) from last year
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    That's hardly surprising.

    The Feds loaned money to large banks at 0% interest and then paid them 3.5%+ to borrow it back to fuel expanding the federal government. The Feds are sucking all of the oxygen out of the private sector. When people are out of work or worried about losing their jobs, they don't buy new houses.

    I keep saying, the most indicative metric is Unemployment - at 15M and growing, it's ugly.
     
  8. Truthmatters
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    This was caused by deregulation of the lending industry with the final nail being Gram Leach Bliliey. Then Bush proceded to NOT police the markets with what little power he had left to police them with.

    You and your right wing ideas CRASHED the world economy for a second time in one lifetime.

    It was your Randian Heros who fucked us and your refusal to accept this will not stop the sane people from cleaning up the mess and fixing it so your fucked up ideas can never take hold again.
     
  9. Truthmatters
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    And you can thank deregulation and failed policing of the market for that.

    Jobs are alwasy the lagging indicator and every honest and sane person knows this.

    WE OVER BUILT HOUSING AND COMMERCIAL due to the speculation buyers who were spurred on by an overinflated housing market.
     
  10. Neubarth
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    Neubarth At the Ballpark July 30th

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    It is a lot more than 15 Million. It is closer to 30 million.

    If you were to take the labor force from thirty years ago and increase it at the rate of population increase, we have lost 30 million people who "would work if work was available."
     

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