The only problem is that the government needs to spend right now to fully break out of the recession. The private sector is still saving so the government needs to offset that until the private sector recovers. But I'm guessing we'll see a lot more reports like this until the election as they'll be doing everything they can to appease the masses. And as Air Langhi alluded to, a one month snapshot does not tell you a lot.
You should pipe down. While the neighborhoods were pretty rough, the housing supply was so limited that prices were crazy.
Good news as we head into the summer RE gas prices. Seems the speculators are fleeing... Still would like to see some kind of legislation to limit speculators involvement in gas prices. Kinda coincided with Obama calling speculators out recently. Either way, relief at the pump appears to continue.
Someone who knows what they're talking about- why is it that the markets has been falling consistently these last few days?
I have very little confidence in the housing market for a number of reason listed below. 1.) First time buyers (young people) are poor and have few job prospects 2.) Huge percentage of Moveup buyers are underwater and can't sell 3.) Baby boomer retirees cannot find anyone who can afford their empy nest McMansions way out in the suburbs 4.) There is a shadow inventory of foreclosed homes on the markets 5.) Interest rates are about as low as they can go and still only producing lukewarm demand 6.) Sequestration is looming 7.) Not a lot of job growth 8.) Wages are decreasing or stagnant 9.) Loan qualifications are much more strict, severely reducing the number of borrowers. 10.) First time home-buyers cannot buy at bubble prices due to 1, 7, 8, 9 11.) Sellers cannot/will not sell until bubble prices return. Given all that, I just can't seem to find basis for the housing market suddenly having a long-term and sustainable turnaround. Would be really interested in seeing what percentage of these new home sales are actually owner occupied and/or all cash transactions. My hunch is that this housing bump is primarily driven by wealthier American and foreign investors/corporation buying up homes and becoming slumlords over everyone else. If that's the case, I'm not sure if that's really something to cheer about, nor do I think that will be sustainable.
better and better U.S. Consumer Confidence Jumps To Highest Level Since February The Conference Board said Tuesday that its Consumer Confidence Index rose to 70.3. That’s up from 61.3 in August, which was revised higher. And it’s the highest reading since February, when the economy added 259,000 jobs.
home prices? Of course those are going to rise with mortgage rates where they are how about some jobs? doh! forget about those, liberals?
oh damn there goes the liberals attempted talking point... Breaking news: home sales less than expected, home prices may not return to peak until 2023
It's stunning that guys like texxx would rather see America fail. I don't care which party is in office as long progress is made. That sure wasn't the case with guys like Dubya in office for 8 years.
Still more good news After Nearly A Decade Of Declines, Manufacturing Jobs Begin Rebound After nearly a decade of steep declines, American manufacturing jobs have begun to rebound since the beginning of the Obama administration, as the slide that occurred under President George W. Bush and during the Great Recession has largely been reversed.
The last snapshot of economic growth before Americans choose a president in 11 days. Report: U.S. Economy Expanding At Faster Rate WASHINGTON (AP) — The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending. The Commerce Department says growth improved from the 1.3 percent rate in the April-June quarter. The pickup in growth may help President Barack Obama's message that the economy is improving.
Romney will still use this against Obama, and people are starting to buy into his b.s., so we'll see whose side this helps more.
For a time it helped Romney but I think that is starting to fade and Obama is hitting his stride with firmly nailing Romney down as a liar and an opportunist. Even people who are not satisfied with the recovery are looking at Romney as the greater of two evils.
