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

[rightwinger]

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

 

[rightwinger]

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

Good to finally see some economic good news

 

[Oddball]

Link, please.

 

[pete]

your welcome!

 

[uscitizen]

I guess the sales of foreclosed homes is included in those figures?

 

[Oddball]

More paper "prosperity" concealing the true inflation rate.

Prices for commodities are way up, too.

 

[uscitizen]

More paper "prosperity" concealing the true inflation rate.

Prices for commodities are way up, too.

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?

 

[blastoff]

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.

 

[Oddball]

More paper "prosperity" concealing the true inflation rate.

Prices for commodities are way up, too.

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?

 

[rightwinger]

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."

 

[rightwinger]

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.

Thats how recoveries start

 

[Oddball]

Yeah...Recoveries start with gold & silver approaching $1,200 and $19.00, respectively, and oil hovering near $80.00.

24-hour Spot Chart - Gold

 

[Claudette]

That bump in houseing might be due to the tax dollars given to first time homeowners. Just like the economy got a bump with the cash for clunkers. Lot of smoke and mirrors.

 

[rightwinger]

Index of Leading Economic Indicators UP for seventh consecutive month

US Leading Economic Indicator Real Time Monthly GDP Company Business Global Forecasting

 

[driveby]

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.

Home sales jump in October, beating expectations - USATODAY.com

Home prices are lower, dollar is worth less, fail......

 

[Oddball]

 

[saveliberty]

November Home Prices Fell Record 18.2% Year-over-Year [Chart of the Day]

When you're 15 feet under water and you float to 8 feet under water, you still drown.

 

[Mike458877]

Main Street is still in steady decline.
The unemployment rate is still on the rise.
Foreclosures are still climbing.
Property values are still in steady decline.
Bankruptcies are still climbing.
New startup of free enterprise is nearly frozen.
Budget reductions are increasing at all levels of business.
People are hoarding extra cash, not spending it.
Those who hold our notes are concerned and putting pressure on us.

And Obama is still living in the White House!

Nothing like good news!

Mike

 

[rightwinger]

November Home Prices Fell Record 18.2% Year-over-Year [Chart of the Day]

When you're 15 feet under water and you float to 8 feet under water, you still drown.

Interesting chart. It seems to show home prices crashing during the last two years of Bush. After that drop 8 feet doesn't look that bad

 

[blu]

i think people who kept their job are now buying real estate up at dirt cheap prices. mortage rates are incredibly low at the moment and banks have eased on restricted lending.