home sales highest in three years???

Forum: General Discussion
Author: [General Discussion] Topic: home sales highest in three years???
mainmanmainman2 PM mainmanmainman2
Joined: Feb 2011
Posts: 4357
Antarctica
 
mainmanmainman2
Participation Meter
Posted: 9/20/2012 10:41:55 AM
anyone calling BS????


bill702 PM bill702
Joined: Jan 2009
Posts: 2205
Nevada
 
bill702
Participation Meter
Posted: 9/20/2012 6:13:08 PM
Calling bs? Why doesn't this make sense?
I_Need_A_Detox PM I_Need_A_Detox
Joined: Feb 2011
Posts: 17238
Massachusetts
 
I_Need_A_Detox
Participation Meter
Posted: 9/20/2012 7:57:40 PM
TheGoldenGoose PM TheGoldenGoose
Joined: Jan 2003
Posts: 26454
Connecticut
 
TheGoldenGoose
Participation Meter
Posted: 9/20/2012 8:10:50 PM

You can blame greedy bankers here.  The rates banks offer borrowers haven’t fallen as dramatically as the rates that they pay the bond investors.  Banks are making twice as much as they normally do on each mortgage they issue.  "Trickle Down" economics at work.  It's a joke.

michaelpaul1 PM michaelpaul1
Joined: Mar 2007
Posts: 22613
New York
 
michaelpaul1
Participation Meter
Posted: 9/20/2012 8:46:32 PM
its bullshit...obamanomics
runlagos PM runlagos
Joined: Jun 2009
Posts: 2897
Pennsylvania
 
runlagos
Participation Meter
Posted: 9/20/2012 9:26:14 PM
Read a good article on the housing news:

""if we're expecting the housing market to pull us out of this recession, we're going to be disappointed. The recovery will come from hard work, innovation, and increases in productivity. Not from accounting gimmicks and bailouts with printed money from the government in fruitless attempts to defy the laws of supply and demand in the housing market."

"We've already built too many homes in the United States, and too many people still in their homes can't afford to keep them. When it comes to our housing market, we're still sitting on an economic time bomb even if we don'tkeep building houses. Building more houses now is only going to accelerate the detonation and increase its destructive force."
bigvern1013 PM bigvern1013
Joined: Oct 2006
Posts: 2397
Montana
 
bigvern1013
Participation Meter
Posted: 9/21/2012 12:13:59 AM

It isn't that big of a deal to beat zero. 

Highest in 3 years?  Who gives a garbage.

Call me when my house is actually worth something again.

Nut_Flopper PM Nut_Flopper
Joined: Jan 2004
Posts: 2334
California
 
Nut_Flopper
Participation Meter
Posted: 9/21/2012 12:48:10 AM
Can't speak for the rest of the country but the market in LA is crazy right now. Low inventory with the majority of it distressed.

Any reasonable deal that is not a short sale is snapped up immediately with multiple offers. High end homes are a little sluggish but low to mid range is extremely hot with HEAVY investor activity looking to flip.


runlagos PM runlagos
Joined: Jun 2009
Posts: 2897
Pennsylvania
 
runlagos
Participation Meter
Posted: 9/22/2012 11:43:38 AM
QUOTE Originally Posted by bigvern1013:

It isn't that big of a deal to beat zero. 

Highest in 3 years?  Who gives a garbage.

Call me when my house is actually worth something again.


RexR PM RexR
Joined: Nov 2011
Posts: 1894
United States
 
RexR
Participation Meter
Posted: 9/22/2012 12:03:03 PM
Live in Phx. Still a shitload of shadow inventory out there.   If you're buying one house to live in, now's a great time. Still some good deals, but a lot of investors are going to get burned (again).

But these news articles about the housing recovery remind me about positive spin thrown out on unemployment numbers.
Getty3 PM Getty3
Joined: Jan 2010
Posts: 19466
Florida
 
Getty3
Participation Meter
Posted: 9/22/2012 1:51:26 PM
QUOTE Originally Posted by runlagos:

Read a good article on the housing news:

""if we're expecting the housing market to pull us out of this recession, we're going to be disappointed. The recovery will come from hard work, innovation, and increases in productivity. Not from accounting gimmicks and bailouts with printed money from the government in fruitless attempts to defy the laws of supply and demand in the housing market."

"We've already built too many homes in the United States, and too many people still in their homes can't afford to keep them. When it comes to our housing market, we're still sitting on an economic time bomb even if we don'tkeep building houses. Building more houses now is only going to accelerate the detonation and increase its destructive force."
I agree with this. The unfortunate part is that so many of our skilled laborers (carpenters,plumbers,masons,landscapers, etc.) are joined at the hip to new construction. It's not like we have a manufacturing base left for the blue collar middle class anymore. This type of economy is almost destined to lead to bigger government which is the only financially capable employer of the uneducated masses. Of course this comes with it's own set of pitfalls. Ultimately, the people can't afford to support the government and all hell breaks loose. 
chilitokid PM chilitokid
Joined: Feb 2007
Posts: 10250
New Hampshire
 
chilitokid
Participation Meter
Posted: 9/22/2012 2:07:20 PM
Houses should be selling......banks are dumping them cheap and builders are selling for 60%


http://www.newenglandmoves.com/property/details/6151/MLS-2817207/46-Veasey-Shore-Meredith-NH-03253.aspx?utm_campaign=&utm_source=www.newenglandmoves.com-emailalert&utm_medium=email&utm_content=listing
chilitokid PM chilitokid
Joined: Feb 2007
Posts: 10250
New Hampshire
 
chilitokid
Participation Meter
Posted: 9/22/2012 2:08:11 PM
http://www.newenglandmoves.com/property/details/6151/MLS-2817207/46-Veasey-Shore-Meredith-NH-03253.aspx?utm_campaign=&utm_source=www.newenglandmoves.com-emailalert&utm_medium=email&utm_content=listing
michaelpaul1 PM michaelpaul1
Joined: Mar 2007
Posts: 22613
New York
 
michaelpaul1
Participation Meter
Posted: 9/22/2012 2:10:09 PM
Randisist PM Randisist
Joined: May 2010
Posts: 3156
Texas
 
Randisist
Participation Meter
Posted: 9/23/2012 12:10:52 PM
QUOTE Originally Posted by RexR:

Live in Phx. Still a shitload of shadow inventory out there.   If you're buying one house to live in, now's a great time. Still some good deals, but a lot of investors are going to get burned (again).

But these news articles about the housing recovery remind me about positive spin thrown out on unemployment numbers.


Unemployment in the US IS a GOOD thing!!!

1. Fewer people employed means less rush our traffic.
    a. Less gas used daily.
    b. Less pollution released into the atmosphere.
    c. The people who do have a job get to work faster. Reduced stress, less coronary stress, fewer heart attacks.

2. Higher employment overseas is better than giving them cash as foreign aid.

3. Stimulates the pawn broker business, building construction industry for prison and jails.

4. Increases sales of home security systems and the products needed by the home security industry.

5. Spurs the hiring of government employees to handle unemployment claims and process requests for public assistance/welfare.

People are being hired, products are being sold, the environment is not being destroyed as fast... What is wrong with those three things???

  Well???

LeRinkRat PM LeRinkRat
Joined: Dec 2001
Posts: 71473
Nevada
 
LeRinkRat
Participation Meter
Posted: 9/23/2012 4:41:08 PM

Live in Phx. Still a shitload of shadow inventory out there.

same here in Las Vegas, Nevada. I think it will take at least a decade to clear all the inventory. the town WAY "over-built" early to mid 2000's

GREAT deals for "snow birds" that want to retire here, though. the seniors areas in areas in Summerlin and Anthem have retained their value MUCH better than the average development.

HutchEmAll PM HutchEmAll
Joined: Jan 2004
Posts: 38669
Minnesota
 
HutchEmAll
Participation Meter
Posted: 9/24/2012 11:05:13 AM
They are building them left and right around here.  And they are selling. But that is new homes.  There is still existing stuff out there.  

I'm going to be moving and expect to get a pretty darn good deal.  
realscififan PM realscififan
Joined: Jan 2010
Posts: 409
Nevada
 
realscififan
Participation Meter
Posted: 9/25/2012 1:20:50 PM
Of course it is BS.  Dont forget the 3 largest hedge funds in the world just bought over 4.5B in homes off the REO market.  They basically got them on .10cents on the dollar or less for every one of them and that is factored in to the number.
Forum: General Discussion
You have entered the forum as a GUEST. 
You must login/register to post or reply.