As Economy Heats Up, Home Sales Hit 3 Year High

[drivebymedia]

“Labor market conditions have shown signs of improvement in recent months but the unemployment rate remains elevated,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. Recent data suggest “a return to moderate economic growth following a pause late last year.”



Fed Maintains $85 Billion Pace of Monthly Asset Purchases - Bloomberg

 

[drivebymedia]

Existing home sales continued to climb in February, further evidence of a continuing recovery in the housing market.

Home sales rose 0.8% in February from January to a seasonally adjusted annual rate of 4.98 million, 10.2% above last year's level, the National Association of Realtors said Thursday.





February home sales hit 3-year high

 

[Oddball]

Easy money > Pump up another housing bubble > Mortgages bought by F&F > Fed buys up MBS via QE > Bubble pops > Fed grabs it all.

Oh, look!...American Idol finals tonight!

 

[drivebymedia]

Existing home sales continued to climb in February, further evidence of a continuing recovery in the housing market.

Home sales rose 0.8% in February from January to a seasonally adjusted annual rate of 4.98 million, 10.2% above last year's level, the National Association of Realtors said Thursday.


February home sales hit 3-year high

 

[DiamondDave]

Housing market is still shit

 

[bripat9643]

Existing home sales continued to climb in February, further evidence of a continuing recovery in the housing market.

Home sales rose 0.8% in February from January to a seasonally adjusted annual rate of 4.98 million, 10.2% above last year's level, the National Association of Realtors said Thursday.





February home sales hit 3-year high

You mean they are back up to the incredibly pathetic level of sales in 2010?

 

[Truthmatters]

Housing market is still shit

Yeah that is why BIG investors have sunk so much money into it huh?

 

[Truthmatters]

the republican will likely try another Debt ceiling scare to kill the economy again.

party over country at every turn

 

[g5000]

The housing market is plainly rising from its bottom. This is why you are now seeing home loan ads starting to show up on your TV again, and why you are getting HELOC applications in your mail.

Of course the detractors will attempt to downplay this, pointing out the market has not magically popped back to 2006 levels. As if that would happen if someone else was in the White House.

It is undeniable the market is improving, and is a positive sign for the economy.

Some people get very upset when things start to look up. Hmmmm...

 

[Truthmatters]

party over country at every turn.

the right has done this my entire lifetime

 

[Midland_Millie]

Yes, the Housing market is recovering nicely from the Bush wreckage as homeowners see their assets being returned to them by Obama

 

[Truthmatters]

welcome to the site millie

 

[DiamondDave]

Housing market is still shit

Yeah that is why BIG investors have sunk so much money into it huh?

Then it should be at record highs, right??

The fact is the housing market stinks, has not recovered, and a small blip up off of extreme lows is not really anything to claim victory about

 

[DiamondDave]

Yes, the Housing market is recovering nicely from the Bush wreckage as homeowners see their assets being returned to them by Obama

Uh huh..


average house value is not even close to recovered.. Bush did not cause the housing crash.. and no assets are 'being returned'...

But nice try

 

[TakeAStepBack]

it's all artifically induced by the federal reserve. This, as with the last bubble, will lead to a burst. As explained by the same scholars that predicted the 2008 collapse. But people have short memories and terribly gullible ways. So we will laugh at the Peter Schiffs and Ron Pauls until after the fact and then current monetary policy supporters will fall silent when those of us who understand what is happening will point out that this was predicted as the last one was predicted.

Only to cheer for the same policy that brought us here all over again.

 

[Truthmatters]

I guess you never heard the phrase "they are not making any more land".


Tell us all why the BIG money has bought a shitload of the distressed homes and are renting them out?

 

[TakeAStepBack]

Peter Schiff And The Coming Housing Collapse: The Fed, Instead Of Lehman, Owns The Mortgage Market - Forbes

Schiff incredibly agrees with what has become a mainstream opinion: the Fed is behind this rally, both in stocks and bonds, and even in real estate markets. Yet Schiff differs in that, while most believe the Fed-induced rally has “training wheels” that can later come off, the Fed’s support “are the only wheels” keeping the market going, and removing them will spark a crash.

Pointing to housing markets, Schiff notes that “we are building more homes than we can afford,” as hedge funds and speculators gobble up hundreds of thousands of properties being cranked out by the homebuilders. Indeed, hedge fund manager Deepak Narula of Metacapital made $125 million last year buying up mortgages, delivering net returns north of 40% while the S&P 500 squeaked out about 14%; several hedge funds followed suit. The foreclosure process is stalled in several “judicial” states while banks are still sitting on massive inventories of housing. Major banks and mortgage originators haven’t gotten out of the mess they caused in the financial crisis: Bank of America, Wells Fargo, JPMorgan Chase, and Citigroup are still in the process of settling a nearly $20 billion tab with homeowners across 49 states.

Read the rest at the above link.

 

[CrusaderFrank]

The Bernake Bubble, he's adding ANOTHER Trillion in Obama debt! Guaranteed!

 

[Truthmatters]

Investors Turn Foreclosures Into Affordable Rentals - ABC News

 

[Truthmatters]

Are the Big investors stupid?