New home sales plummet to record low CNNMoney -

Discussion in 'Economy' started by Neubarth, Jun 23, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    It is all collapsing. New home sales plummet to record low
    CNNMoney - Hibah Yousuf - ‎40 minutes ago‎
    NEW YORK (CNNMoney.com) -- New home sales plummeted to a record low in May, the first month following the expiration of the homebuyer tax credit.
    Sales of US New Homes Plunged to Record Low in May BusinessWeek
    New-home sales plunge 33% to record low in May MarketWatch
     
  2. hvactec
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    hvactec VIP Member

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    seen that on marketwatch
    Home Sales dropped to a seasonally adjusted annual rate of 300,000, the lowest since records began in 1963.
     
  3. topspin
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    topspin BANNED

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    Poor people sell your stocks, it's raining.
    I have a bucket, I'll buy.
    don't piss your pants cause of one months bad numbers especially after the gov give away drove those numbers higher.
     
  4. driveby
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    driveby Gold Member

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    Ahhh, so the "good" housing numbers the moonbats have been touting here for months actually weren't that good and they were artificial ? ... omgnoway !
     
  5. Mr Clean
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    Mr Clean Gold Member

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    As a life-long Long Islander who's seen this once pristine island ravaged developers with their sub-divisions and strip malls, I can only say

    GOOD!
     
  6. Neubarth
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    Neubarth At the Ballpark July 30th

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    Now, THAT (that you wrote) is an interesting perspective. I have been trying to see positives in the economy, and have not seen any short of getting very close to starting a recovery before the most recent obvious decay.

    Now, your perspective that, the new numbers are not as bad as they first seem because they have fallen from an artificially created high, does make one pause for a second or two before dismissing it. I applaud your effort.
     
  7. topspin
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    topspin BANNED

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    Let me add that toll brothers is the only housing stock I've ever had. It was a small investment for a short time.
    Tech looks real good, apple, microsoft, IBM, intel, cysco etc for 1 to 3 years. The worlds economy and ours is recovering. I watch GDP, inflation, and top companies in select industries.
    That said, I prayed for a crash my whole career. Being a subscriber to efficient market theory. I'd wouldn't mind another as I'm buying for another year or two.
     
  8. Douger
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    Douger BANNED

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    Stock ? Yeah. I have stock too.
     

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