Home sales rise 19.8%

Discussion in 'Economy' started by Chris, Nov 4, 2009.

  1. Chris
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    Chris Gold Member

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    Nov. 2 (Bloomberg) -- The number of contracts to buy previously owned homes in the U.S. rose in September for an eighth straight month as Americans rushed to meet a deadline for a home-buyer tax credit.

    The index of signed purchase agreements, or pending home sales, rose 6.1 percent after a 6.4 percent gain in August, the National Association of Realtors said in Washington. Compared with a year earlier, pending sales rose 19.8 percent, without adjusting for seasonal variations.
    Pending Sales of Existing Homes in U.S. Rise 6.1% (Update1) - Bloomberg.com
     
  2. Old Rocks
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    Old Rocks Diamond Member

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    My real estate agent say that she expects the market to come back this spring, not with a roar, and at lower prices. She says that there will be a gradual improvement in sales here for those that are willing, and financially capable of taking 20% to 30% less than they would have gotten two years ago.
     
  3. Chris
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    Chris Gold Member

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    The market here is booming, thanks to the first time home buyer tax credits.

    The stimulus is working.
     
  4. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    [ame=http://www.youtube.com/watch?v=s27Oq5ot0ZI]YouTube - Mohammed Saïd al-Sahaf[/ame]

    How did you escape Baghdad, Chris?
     
  5. Mr. H.
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    Mr. H. Diamond Member

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    Spend it, and they will buy.
     
  6. JW Frogen
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    JW Frogen Gold Member

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    The market is like a big fat, juicey penis, it needs stimulus or it becomes a rubber chicken with no delight in sight.
     
  7. Chris
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    Chris Gold Member

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  8. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    And what exactly does this matter? We are going to have another bubble. Nothing's changed. People who cant afford it are still getting loans. What's going to happen when they start defaulting again? sure it might be in another year or two. but until the problem is fixed this isnt really something to cheer about.

    Why are you happy when a band aid is on the wound when there is internal bleeding being ignored? Why are we suddenly supposed to jump for joy?

    At least have the honesty to fix the actual problem instead of focusing on symptoms.
     
  9. Claudette
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    Claudette Gold Member

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    Of course people are buying homes. They are being given money to buy homes as first buyers. Just as they were given money to buy new cars. Each of those cars cost us taxpayers 24 thousand dollars. Sounds like a deal to me. Wonder how much each of the homes will cost us taxpayers. Thats providing the buyers can pay the mortgages and we don't have to bail them out along with the rest of the world.
    Its a bubble just as the clunkers were for the auto industry. Will they never learn???

    Give them money and they will come.
     
  10. Chris
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    Chris Gold Member

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    Sorry, you are wrong.

    Everything's changed. There is no more 100% money except for VA buyers. There are no more easy loans. You have to be qualified and your qualifications have to check out.

    You really don't know anything about business do you?
     

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