Homes sale plunge 11.3 %

[Mr.Fitnah]

Sorry Chris

US new home sales plummet
By Alan Rappeport
Published: December 24 2009 02:00 | Last updated: December 24 2009 02:00
Sales of new homes in the US plunged unexpectedly in November, official figures showed, as buyers favoured distressed and foreclosed properties.

New home sales dropped 11.3 per cent to an adjusted annual rate of 355,000, commerce department figures showed. That was the lowest level for seven months and defied expectations of a rise. Compared with a year ago, sales of new homes are down 9 per cent.

The data show how sales of existing homes, which rose last month, have come at the expense of new homes sales. The figures also showed the impact of expectations that the first-time homebuyer tax credit would expire in November. It has subsequently been extended into next year.

Alan Rappeport, New York

US News Headlines - FT.com

 

[Chris]

So what?

November existing homes sales are up 44% over last November.

Sorry, Fitnah.

 

[Mr.Fitnah]

How much are foreclosures up?

 

[rdean]

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

Who's right?

 

[Chris]

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%.

 

[Chris]

How much are foreclosures up?

Foreclosures are about the same.

But unemployment and foreclosures are lagging indicators.

But you knew that.

 

[Mr.Fitnah]

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

 

[Chris]

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

That's why we need to give courts the power to modify mortgages like they did in the 1930's.

 

[Mr.Fitnah]

We will see another wave of foreclosure as these first time home buyers find they have bitten off more than they can chew and the stimulus bubble pops .

Sure of course the answer is more government control.

 

[garyd]

Bogus Chris. If Sales of all homes are only up 7.4% (according to your ally) But New homes are down 11.3% Then either your 44% is wrong or your statement that existing homes are the vast majority of the market is bogus. By the way one of the reasons that the sale of existing homes is up is likely that the banks and mortgage companies are trying desperately to unload foreclosed properties and at cutrate prices.

 

[learntoread]

What you all seem to overlook is the why...
This entire situation we find ourselves in is engineered. The the housing market, the stock market, the "wars" we are fighting, the trade deficit, the increasing crackdown on free speech that they call "measures to protect the american people"...the list may seem like talking points on the news if you look at each separately, but as a collective, they point to one thing: IT IS A MANUFACTURED COLLAPSE. Plain and simple. Or maybe it is simpler. Maybe you are right to think that Wall Street and its control over DC are just fine...

 

[Chris]

Bogus Chris. If Sales of all homes are only up 7.4% (according to your ally) But New homes are down 11.3% Then either your 44% is wrong or your statement that existing homes are the vast majority of the market is bogus. By the way one of the reasons that the sale of existing homes is up is likely that the banks and mortgage companies are trying desperately to unload foreclosed properties and at cutrate prices.

?

Sales are up from October to November 7.4%.

Sales are up from November 2008 compared to November of 2009, 44%.

And yes, the VAST MAJORITY of the market is existing homes, not new homes.

 

[Mr.Fitnah]

Bogus Chris. If Sales of all homes are only up 7.4% (according to your ally) But New homes are down 11.3% Then either your 44% is wrong or your statement that existing homes are the vast majority of the market is bogus. By the way one of the reasons that the sale of existing homes is up is likely that the banks and mortgage companies are trying desperately to unload foreclosed properties and at cutrate prices.

?

Sales are up from October to November 7.4%.

Sales are up from November 2008 compared to November of 2009, 44%.

And yes, the VAST MAJORITY of the market is existing homes, not new homes.

We will watch your numbers , any chance they will be adjusted?

 

[Chris]

Bogus Chris. If Sales of all homes are only up 7.4% (according to your ally) But New homes are down 11.3% Then either your 44% is wrong or your statement that existing homes are the vast majority of the market is bogus. By the way one of the reasons that the sale of existing homes is up is likely that the banks and mortgage companies are trying desperately to unload foreclosed properties and at cutrate prices.

?

Sales are up from October to November 7.4%.

Sales are up from November 2008 compared to November of 2009, 44%.

And yes, the VAST MAJORITY of the market is existing homes, not new homes.

We will watch your numbers , any chance they will be adjusted?

Any chance some rudimentary knowledge will seep into your brain?

 

[oreo]

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."

 

[Chris]

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."

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.

 

[oreo]

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.

Inventory in the housing market has to disappear before we see any real recovery in the job market. It was the housing bubble that brought 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.

The last time I saw this-- as a realtor--was in the late 1980's 99% of our closings involved homeowners coming to the table with "cash" to unload their properties. I can assure you that is what is going on right now & will continue for quite some time to come.

 

[Chris]

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.

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.

 

[oreo]

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.

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.

 

[PatekPhilippe]

The sales of existing homes is a bullshit number designed to DUPE Americans especially dumb fucks like Chris that the economy is improving...the 7.4% increase in existing homes is an investor fueled statistic as they buy foreclosed homes for pennies on the dollar...

Will any sense seep into Chris's brain in his lifetime? More than likely...NOT!!!