More Economic GOOD NEWS: New Home Sales Up 27%....largest jump in 47 years

[DiamondDave]

Actually what pisses me off is people who cant comprehend that gov't does not produce anything, it only transfers money from one person to another.
In this case it is transferring money from productive people and assets to unproductive people and assets. If you paid any taxes you'd be pissed off too.

INEFFECTIVELY transferrs money around... the red tape in the system wastes a TON of the funding set aside for projects, upkeep, etc

Inefficiently, you mean. Yeah, the "toll for the troll" is another drag on the economy.

Yes.. thanks for the catch

 

[Ame®icano]

Sales of new homes surged 27% last month, bouncing off the previous month's record low...

From record low, up 27%. With tax incentives. Nice(r) weather though.

Now this...

Foreclosure filings in the U.S. rose 16 percent in the first quarter from a year earlier and bank seizures hit a record as lenders stepped up action against delinquent homeowners, according to RealtyTrac Inc.

U.S. Foreclosure Filings Rise 16% as Bank Seizures Set Record

 

[Gadawg73]

except they aren't offering a tax cut but a tax credit for buying an item they probably would have bought anyway. And the loss in revenue has to be made up somewhere else.

Two things that piss off the Rabbi

1. Reporting that the economy is NOT failing

2. Offering tax incentives for working people

Actually what pisses me off is people who cant comprehend that gov't does not produce anything, it only transfers money from one person to another.
In this case it is transferring money from productive people and assets to unproductive people and assets. If you paid any taxes you'd be pissed off too.

"When plunder becomes a way of life for a group of men living in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it" Frederic Bastiat

I like this one "more better":

"You can not legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government can not give to anybody anything that the government does not first take from someone else. When half of the people get the idea that they do not have to work because the other half is taking care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is about the end of any nation. You can not multiply wealth by dividing it" Adrian Rogers 1931

If you rob Peter to pay Paul you can always count on Paul's vote is what is happening folks.
The 11th commandment both Republicans and Democrats alike:
Thou shall not steal, except by majority vote.

 

[Oddball]

Hmmm....Where have I heard that?

 

[boedicca]

As I recall, February was filled with ice storms which kept a lot of people across the country housebound. Not surprising that they weren't buying new houses. Let's see what June and July look like after the pent up demand has flushed through and mortgage rates continue to rise.

 

[Soggy in NOLA]

Tell that to the 45 million unemployed. I bet they'll jump for joy!

 

[oreo]

New-home sales jump 27%, biggest gain in 47 years - USATODAY.com

WASHINGTON — Sales of new homes surged 27% last month, bouncing off the previous month's record low and blowing past expectations as better weather and government incentives boosted sales.
The Commerce Department said Friday that new-home sales rose in March to a seasonally adjusted annual sales pace of 411,000. It was the strongest month since last July and the biggest monthly increase in 47 years.

Economists surveyed by Thomson Reuters had expected a sales pace of 330,000. February's results were revised upward to 324,000, but remained an all-time low. Sales had been especially weak over the winter, partly due to bad weather in much of the country.


And again as Rightwinger typically does--leaves OUT information--Like this--

The new-home sales report reflects signed contracts to purchase homes rather than completed sales and thus gives economists a feel for how many buyers were out shopping for new homes in a given month.

It is likely capturing consumers who are trying to qualify for federal tax credits that will expire at the end of this month. The government is offering an $8,000 credit for first-time buyers and $6,500 for current homeowners who buy and move into another property.

To qualify, buyers must have a signed contract complete by the end of next week and must complete the transaction by the end of June. Nearly 1.8 million households have used the credit at a cost of $12.6 billion, according to the Internal Revenue Service.

The median sales price was $214,000, up more than 4% from a year earlier but down more than 3% from February.

While I am happy to see that foreclosurers are starting to lose their saturation--we can see that this is brought on by another government subsidized program. To add--this is for signed contracts only and does not actually verify that these new home buyers were able to secure a loan on these properties--and were actually able to purchase a new home.

 

[rightwinger]

except they aren't offering a tax cut but a tax credit for buying an item they probably would have bought anyway. And the loss in revenue has to be made up somewhere else.

Two things that piss off the Rabbi

1. Reporting that the economy is NOT failing

2. Offering tax incentives for working people

Actually what pisses me off is people who cant comprehend that gov't does not produce anything, it only transfers money from one person to another.
In this case it is transferring money from productive people and assets to unproductive people and assets. If you paid any taxes you'd be pissed off too.

What exactly does Warren Buffet produce?

 

[MarcATL]

rightwinger...

RW nutjobs beleives that just the fact that a few people are able to become rich and mega-rich that means that the system is good.

So they go rabid when they perceive someone or the "gubmunt" is taking money or somehow attacking the richsters.

 

[boedicca]

Actually, conservatives are not the ones claiming that the economy is recovering based on stock prices while ignoring the 15M+ of Officially Unemployed people.

 

[rightwinger]

rightwinger...

RW nutjobs beleives that just the fact that a few people are able to become rich and mega-rich that means that the system is good.

So they go rabid when they perceive someone or the "gubmunt" is taking money or somehow attacking the richsters.

However...they have no problems passing legislation to allow the super rich to become richer.

But pass a program to help working Americans and they scream SOCIALISM

or the now trendy....REDISTRIBUTION OF WEALTH

Wealth is only to be distributed to the wealthy......try to distribute to the working Americans and the rightwing starts to pull out their Constitution

 

[rightwinger]

Actually, conservatives are not the ones claiming that the economy is recovering based on stock prices while ignoring the 15M+ of Officially Unemployed people.

Do you mean the 15 million unemployed due to Bush?

 

[boedicca]

Uh. Wealth is not something that just exists without people earning it or already owning it.

 

[boedicca]

Actually, conservatives are not the ones claiming that the economy is recovering based on stock prices while ignoring the 15M+ of Officially Unemployed people.

Do you mean the 15 million unemployed due to Bush?

It's clear that you suffer from:

What peak level of unemployment was the Stilmulus supposed to guarantee?

 

[The T]

New-home sales jump 27%, biggest gain in 47 years - USATODAY.com

WASHINGTON — Sales of new homes surged 27% last month, bouncing off the previous month's record low and blowing past expectations as better weather and government incentives boosted sales.
The Commerce Department said Friday that new-home sales rose in March to a seasonally adjusted annual sales pace of 411,000. It was the strongest month since last July and the biggest monthly increase in 47 years.

Economists surveyed by Thomson Reuters had expected a sales pace of 330,000. February's results were revised upward to 324,000, but remained an all-time low. Sales had been especially weak over the winter, partly due to bad weather in much of the country.


And again as Rightwinger typically does--leaves OUT information--Like this--

The new-home sales report reflects signed contracts to purchase homes rather than completed sales and thus gives economists a feel for how many buyers were out shopping for new homes in a given month.

It is likely capturing consumers who are trying to qualify for federal tax credits that will expire at the end of this month. The government is offering an $8,000 credit for first-time buyers and $6,500 for current homeowners who buy and move into another property.

To qualify, buyers must have a signed contract complete by the end of next week and must complete the transaction by the end of June. Nearly 1.8 million households have used the credit at a cost of $12.6 billion, according to the Internal Revenue Service.

The median sales price was $214,000, up more than 4% from a year earlier but down more than 3% from February.

While I am happy to see that foreclosurers are starting to lose their saturation--we can see that this is brought on by another government subsidized program. To add--this is for signed contracts only and does not actually verify that these new home buyers were able to secure a loan on these properties--and were actually able to purchase a new home.

Truth. it's just like we are told that GM paid up their loan...but what they won't tell you is that they used other government funds to pay it.

 

[The Rabbi]

Two things that piss off the Rabbi

1. Reporting that the economy is NOT failing

2. Offering tax incentives for working people

Actually what pisses me off is people who cant comprehend that gov't does not produce anything, it only transfers money from one person to another.
In this case it is transferring money from productive people and assets to unproductive people and assets. If you paid any taxes you'd be pissed off too.

What exactly does Warren Buffet produce?

Umm, underwear, jewelry, furniture, insurance products, energy products, tools, etc etc.
What do you produce other than flatulence on this board?

 

[ihopehefails]

Thank goodness for hard working Americans who decided to sell more homes but Obama still hasn't done shit. He hasn't sold a home, made a home, or even bought a home so what credit does he deserve for this? Was their a law mandating people buy homes? In fact, Obama has created less jobs than the private sector which means he sucks big time. Thank goodness for hard working Americans trying to make it out of this recession.

 

[uscitizen]

I didn't read the entire thread, but of course home sales are up with the 6 -8K incentives running out they will drop now because the closing has to be within something llike the next 30 days.

Just wait till the June figures come out.

 

[rightwinger]

Uh. Wealth is not something that just exists without people earning it or already owning it.

Or working to produce it

 

[Gadawg73]

Two things that piss off the Rabbi

1. Reporting that the economy is NOT failing

2. Offering tax incentives for working people

Actually what pisses me off is people who cant comprehend that gov't does not produce anything, it only transfers money from one person to another.
In this case it is transferring money from productive people and assets to unproductive people and assets. If you paid any taxes you'd be pissed off too.

What exactly does Warren Buffet produce?

Capital.