Homes sales jump 7.4%

[uscitizen]

The Republicans will save the day and rescue us from the effects of their mismanagement. I love it

 

[Oddball]

BTW, gang.....This is the time of year the banks dump a lot of their REOs, so they don't have those dreaded "non-performing assets" on the books.

But I guess you need to know a lot about the R/E market to know these things, dontcha, Chrissy?

 

[Oddball]

That is why minimal requirements should be at least "average" credit, verifiable income, and 5% down. Such underwriting guidelines offer the investor a reasonable amount of safety, and the buyer a reasonable amount of "skin in the game".

FHA has already risen its down payment requirement to 3.5% - which is plenty. This, combined with the tougher appraisal and underwriting requirements, offers up a far safer and more reasonable market condition than the sub-prime days of utter madness that started the ball rolling for what became the real estate collapse.

If the above does not happen, then the gap between the haves and have nots will worsen more so in America...

Before the days of giveaway credit, I helped people with damaged credit clean it up with lease/options.

CRA asswipes dried up my buyers and sellers pools so bad I had to go back to schlepping in the construction racket.

 

[PatekPhilippe]

But I thought the stimulus wasn't working?

Easy and below-natural-market-rate credit, extended to people who eventually weren't be able to pay of the mortgages, is what got us into this problem, you insane nitwit.

But those mortgages don't exist anymore.

You don't know much about the real estate market, do you?

You stupid phony MF...the loans do in fact STILL exist...wasn't it YOU bitching like a 6 year old girl who got her Bratz dolls taken away that the banks weren't lending any money to anyone?

 

[Sinatra]

BTW, gang.....This is the time of year the banks dump a lot of their REOs, so they don't have those dreaded "non-performing assets" on the books.

But I guess you need to know a lot about the R/E market to know these things, dontcha, Chrissy?

That is true- and they have also been holding off on a majority of foreclosures.

There will be a significant uptick in these foreclosures January-March.

Once that smoke clears, we will have a better idea of the overall health of the housing market moving forward.

If unemployment remains at these levels, things will remain rather bleak...

 

[Dr.House]

The Republicans will save the day and rescue us from the effects of their mismanagement. I love it

Nah....

Barry will just promise free houses to Americans who are registered democratics...

Sign up now, before the good ones are all gone....

 

[rightwinger]

I know its close to Christmas, but I have more bad news.

The GDP is up 2.2%

The Commerce Department's final estimate showed gross domestic product grew at a 2.2% annual rate instead of the 2.8% pace it reported last month. Analysts polled by Reuters had forecast the report to show GDP, which measures total goods and services output within U.S. borders, unrevised at a 2.8% growth rate in the third quarter.

It was still the fastest pace since the third quarter 2007 and ended four straight quarters of decline. The resumption of growth in the July-September period probably ended the most brutal recession since the 1930s.
Growth was boosted by government stimulus programs, including the popular cash for clunkers auto sales program and tax credit for first-time home buyers.



Economic rebound is weaker; GDP revised down - USATODAY.com

 

[uscitizen]

The Republicans will save the day and rescue us from the effects of their mismanagement. I love it

Nah....

Barry will just promise free houses to Americans who are registered democratics...

Sign up now, before the good ones are all gone....

already got one all paid for. don't need another one.

 

[Oddball]

Growth was boosted by government stimulus programs, including the popular cash for clunkers auto sales program and tax credit for first-time home buyers.

IOW, there was even less real growth than reported, as free lunch giveaway programs kept price bubbles artificially inflated.

 

[Dr.House]

The Republicans will save the day and rescue us from the effects of their mismanagement. I love it

Nah....

Barry will just promise free houses to Americans who are registered democratics...

Sign up now, before the good ones are all gone....

already got one all paid for. don't need another one.

Maybe you can give the freebie to someone without a job... Shouldn't be hard to find one...

 

[uscitizen]

Nah....

Barry will just promise free houses to Americans who are registered democratics...

Sign up now, before the good ones are all gone....

already got one all paid for. don't need another one.

Maybe you can give the freebie to someone without a job... Shouldn't be hard to find one...

Naah I believe in personal responsibility. Let them find their own free house.

 

[rightwinger]

More Good News for Christmas!

Just in time for the holiday season..

Dow at 8150 in late January

Up to 10460 today!

The Dow is up 49% since the passing of the stimulus in February!

Seasons greetings to all

 

[uscitizen]

But the stimulus cannot be working. Rush said so.

 

[Dr.House]

already got one all paid for. don't need another one.

Maybe you can give the freebie to someone without a job... Shouldn't be hard to find one...

Naah I believe in personal responsibility. Let them find their own free house.

Doesn't that clash with your wealth redistribution feelings?

 

[uscitizen]

Maybe you can give the freebie to someone without a job... Shouldn't be hard to find one...

Naah I believe in personal responsibility. Let them find their own free house.

Doesn't that clash with your wealth redistribution feelings?

wealth redistribution?

 

[rightwinger]

But the stimulus cannot be working. Rush said so.

Can someone please post some unemployment numbers to cheer Dr House up?

 

[bodecea]

Who knew that free lunch was so popular?

Free homes??????

 

[Oddball]

Although not free, the R/E price bubble is being kept at least partially inflated by doling out "free" money to anyone who goes out and buys a house.

But the bad news will be after the welfare program runs out, demand naturally flags and prices adjust. Then, we'll have a bunch more people in houses that are upside-down again, and foreclosures will likely spike again.

 

[Mr. Peepers]

If 2010 swings toward the Republicans, then further stabilization will develop.

Riiiiight..... Because you guys did such a bang-up job stabilizing the economy for the previous 8 years. Lord have mercy that we don't have to deal with any more republican fall-out for a while...

 

[Sinatra]

If 2010 swings toward the Republicans, then further stabilization will develop.

Riiiiight..... Because you guys did such a bang-up job stabilizing the economy for the previous 8 years. Lord have mercy that we don't have to deal with any more republican fall-out for a while...

Actually no - that is not it.

The market economy prefers a bit more gridlock.

The one-party system we currently have spooking folks as the far left agenda is still leaving a ton of money sitting back in safe mode waiting to see how things shake out.

With the corrupt health care marching toward its eventual conclusion, some of that money is now pouring into the insurance industry as it appears that that industry will benefit most from the Democrat healthcare bill.

Tax rates, Cap n Tax, Stimulus III, the deficit explosion etc are still weighing heavily on investors though.

If and when this shakes out and real stability returns, then start ups will begin again, along with M&As, etc.

At present, the biggest winners are Wall Street. If a Republican were president, the left would be screaming that the stimulus was simply to bail out the fat cats on Wall Street while the common person was forgotten under the yoke of double digit unemployment.

The overall economy is slowly trying to get up off the floor.

I hope it does for all our sakes...