Housing sales up to highest levels in 4 to 5 years

[Rshermr]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

 

[The Rabbi]

So what have housing prices done? Oh yeah, still down. Four years into recovery and people are poorer today than when Obozo got elected.

 

[Rshermr]

So what have housing prices done? Oh yeah, still down. Four years into recovery and people are poorer today than when Obozo got elected.

Rising home prices and a faster pace of sales have shown the housing market has finally turned the corner this year.

Sorry, prices of housing is going up.

The reports also support the view that the broader economic recovery is becoming increasingly self-sustaining, with job creation helping drive home sales, which in turn are supporting economic growth. Home building is expected to add to economic growth this year for the first time since 2005.

So, perhaps you will have a memory of 2005. When the prices of housing started DOWN. Now, if you understand math, that would be four years before Obama took office. Who was President then?? What political party was he in??

You have to excuse Rabbi. He follows information that is posted on this blog and makes every effort to make it look like the fault of the current administration. Because, you see, Rabbi is a con tool, and that is what he does, and all that he does.

 

[The Rabbi]

You're not very bright, are you? Do you understand that "going up" is not synonymous with "higher"?
The Master of Bullshit Assertions strikes again!

 

[Spoonman]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

 

[The Rabbi]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

Fewer people working plus more layoffs equals fewer people buying. Pretty simple.

 

[Spoonman]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

Fewer people working plus more layoffs equals fewer people buying. Pretty simple.

and mortgages are still not easy to get.

 

[Rshermr]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

So Spoonman says:

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

So, apparently spoonman is an expert. No links, just his opinion. But the link will tell him that it is happening, the inventory has gone down considerably, the economy has recovered with the exception of unemployment, and unemployment is continuing to decrease. Sorry, not what you want to hear. But take a look, maybe you can provide a link proving your accusations.
Relative to taxes, I say you can not show a time when raising taxes has ever hurt the economic numbers when the unemployment rate was high, say over 7%. So, again, just a case of your opinion. And yes, my poor con tool, you are going to continue to see the housing numbers continue to get better. All the experts in the subject say so. Go do a google search, or if you are having troubles doing so, let us know. Someone will show you how.

 

[Rshermr]

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years. Steady job gains and record-low mortgage rates have made home buying more attractive.
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 5.2 percent to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
The increase points to healthy sales increases of previously occupied homes in the months ahead. There's generally a one- to two-month lag between a signed contract and a completed sale.
The rise in sales adds to evidence of a steady housing recovery.
Read more: Nation's housing sales take big jump - Times Union

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

Fewer people working plus more layoffs equals fewer people buying. Pretty simple.

Yep. Pretty simple for a con tool. Even though it is happening and has been happening, as a con tool you will continue to say it is not happening. Your opinion again, rabbi, and you know how much we respect your opinion.

 

[Rshermr]

never going to happen. to much inventory, the economy hasn't recovered, unemployment is still high. raising taxes will hurt the market, not help it.

Fewer people working plus more layoffs equals fewer people buying. Pretty simple.

and mortgages are still not easy to get.

Nope. Not as easy as when they simply took your temperature and if over 90 gave you a mortgage. But easier. I just bought another house. Easy enough these days.

 

[Politico]

You're not very bright, are you? Do you understand that "going up" is not synonymous with "higher"?

Exactly. Saying we're up doesn't mean much when it it from dog shit to sewer level. And just because people have signed contracts doesn't mean they've gotten financed or bought anything.

 

[Spoonman]

Fewer people working plus more layoffs equals fewer people buying. Pretty simple.

and mortgages are still not easy to get.

Nope. Not as easy as when they simply took your temperature and if over 90 gave you a mortgage. But easier. I just bought another house. Easy enough these days.

the only thing driving sales up right now are short sales. and that is a result of banks having too much inventory. they can't afford to take on more for one. and secondly, they know the market is not going to be improving. instead they are willing to accept a partial loss rather than a total loss. Fact is, prospective buyers don't have the cash. buying a house right now is not a sure investment in your future like it one was. too much risk. the market had been flooded but any potential buyer. the weak ones got rooted out and have been forced to foreclose. think they are getting another mortgage easily? even if they are slightly back on their feet?

 

[longknife]

And these are the houses they are buying?

Obama's Economy: Tiny Homes for You

Big Government blog – yeah that rightie Breitbart outfit – gives us this:

In a CBS-TV report from New York, anchor Maurice Dubois introduced a piece about the burgeoning tiny new homes movement this way:

And there are locales for this things in DC and other cities.

Read more @ Obama's Economy: Tiny Homes for You

There was another blog post I was going to place here about how the vast majority of upper-end homes [read mansions and estates] are being bought up by very wealthy Chinese.