More Economic Good News........Home sales surge 10.1% in October

Discussion in 'Economy' started by rightwinger, Nov 23, 2009.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    WASHINGTON — Home sales surged for the second month in a row in October, climbing to the highest level in 2 years as first-time buyers rushed to take advantage of an expiring tax credit.
    Home sales nationwide are now up nearly 37% from their bottom in January, data Monday showed, though they are still 16% below the peak in autumn 2005. At the current sales pace, there is only a 7-month supply of homes on the market and in some areas there are bidding wars.

    http://www.usatoday.com/money/economy/2009-11-23-existing-home-sales-oct_N.htm
     
    Last edited: Nov 23, 2009
  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Home sales up 37% since January
    Stock Market up 28% since January

    Good to finally see some economic good news
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    Link, please.
     
  4. pete
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    pete The food stamp president

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    your welcome!
     
  5. uscitizen
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    uscitizen Senior Member

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    I guess the sales of foreclosed homes is included in those figures?
     
  6. Oddball
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    Oddball BANNED Supporting Member

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    More paper "prosperity" concealing the true inflation rate.

    Prices for commodities are way up, too.
     
  7. uscitizen
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    uscitizen Senior Member

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    The commodity price rise is due to the falling dollar and our vwegas style commodities markets.

    The prices have to go up for us to have a recovery ;) Are you anti recovery?
     
  8. blastoff
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    blastoff Undocumented Reg. User

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    I'm gonna go out on a limb and suggest it's not unemployed people buying those homes.

    It's those of us with some bucks who recognize the value of good prices and low mortgage rates.
     
  9. Oddball
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    [​IMG]
     
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  10. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Economists see joblessness bottoming out - Stocks & economy- msnbc.com

    updated 8:33 a.m. ET, Mon., Nov . 23, 2009
    Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.

    While signs have pointed to the end of the recession, joblessness remains rampant. The national unemployment rate jumped to 10.2 percent in October, the highest in 26 years. About 9 million people currently receive unemployment benefits.

    The November outlook by the National Association for Business Economics, which is set to be released Monday, shows economists expect net employment losses to bottom out in the first quarter of next year. Employers are seen starting to add to their payrolls after that.
    "While the recovery has been jobless so far, that should soon change," said Lynn Reaser, NABE's president and chief economist at Point Loma Nazarene University. "Within the next few months, companies should be adding instead of cutting jobs."
     

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