New Home Sales Fall to 13-Year Low. Yup, put another Repug in the White House

[Harry Hope]

From The Associated Press, 3/26/08:
http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story

New Home Sales Fall to 13-Year Low

WASHINGTON (AP) --

Sales of new homes fell in February for fourth straight month, pushing
activity down to a 13-year low as the steep slump in housing
continued.

______________________________________________

Yup. Another Repug in the White House, that's the answer, right?

Harry

 

[B1ackwater]

On Wed, 26 Mar 2008 10:31:12 -0400, Harry Hope <rivrvu@ix.netcom.com>
wrote:

>
>From The Associated Press, 3/26/08:
>http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story
>
>New Home Sales Fall to 13-Year Low
>
>WASHINGTON (AP) --
>
>Sales of new homes fell in February for fourth straight month, pushing
>activity down to a 13-year low as the steep slump in housing
>continued.
>
>______________________________________________
>
>Yup. Another Repug in the White House, that's the answer, right?


Oddly though, there's been something of a jump, albeit
a small one, in sales of EXISTING homes. Dunno why.
Maybe it's easier to negotiate-down regular Joe homeowners
than some faceless mega-building-corp that's turned 200
acres of forest and pasture into a packed-in collection
of off-pink condos ........

Regardless, IF you've got the money this is getting to
be a VERY good time to acquire some real-estate. It
WILL rise again, of course ... but you'll have to pay
the property taxes until it does. Three years, maybe
five ... ?

 

[timeOday]

B1ackwater wrote:

> Regardless, IF you've got the money this is getting to
> be a VERY good time to acquire some real-estate.

Who can say? It's somewhat cheaper than 18 months ago, but still a
whole lot more expensive than 4 years ago. Some places had several
hundred percent inflation over the last 6 years, does going back down
15% really make it a bargain?

The bubble was fueled by lax lending. We probably won't see it that lax
again until the next generation of investment bankers comes along and
the credit cycle repeats itself once again.

 

[B1ackwater]

On Wed, 26 Mar 2008 12:03:09 -0600, timeOday
<timeOday-UNSPAM@theknack.net> wrote:

>B1ackwater wrote:
>
>> Regardless, IF you've got the money this is getting to
>> be a VERY good time to acquire some real-estate.
>
>Who can say? It's somewhat cheaper than 18 months ago, but still a
> whole lot more expensive than 4 years ago. Some places had several
>hundred percent inflation over the last 6 years, does going back down
>15% really make it a bargain?

I'll take "better" over "worse". It's all kinda relative here.

>The bubble was fueled by lax lending. We probably won't see it that lax
>again until the next generation of investment bankers comes along and
>the credit cycle repeats itself once again.

The bubble was fueled by "gold fever" - people thinking
they could make the big score. It was facilitated by
ultralax lending practices ... just like the previous
mountain of debts we've been accumulating since the
1960s. Buy now, pay ... well ... NEVER ! Just take out
a loan to cover your other loans and ......

The (suicidal) American Way dontchaknow.

I remember about ten years ago ... if you DIDN'T have
every asset 'leveraged' to the absolute max people
considered you to be a total schmuck, a weirdo, almost
un-American. Besides, if you weren't fully leveraged
then how could you afford to buy the hot 'dot.com'
stocks ???!!!

 

[Heywood Jablowmi]

"B1ackwater" <bw@barrk.net> wrote in message
news:47ea6a5b.13312671@news.east.earthlink.net...
> On Wed, 26 Mar 2008 10:31:12 -0400, Harry Hope <rivrvu@ix.netcom.com>
> wrote:
>
>>
>>From The Associated Press, 3/26/08:
>>http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story
>>
>>New Home Sales Fall to 13-Year Low
>>
>>WASHINGTON (AP) --
>>
>>Sales of new homes fell in February for fourth straight month, pushing
>>activity down to a 13-year low as the steep slump in housing
>>continued.
>>
>>______________________________________________
>>
>>Yup. Another Repug in the White House, that's the answer, right?
>
>
> Oddly though, there's been something of a jump, albeit
> a small one, in sales of EXISTING homes. Dunno why.
> Maybe it's easier to negotiate-down regular Joe homeowners
> than some faceless mega-building-corp that's turned 200
> acres of forest and pasture into a packed-in collection
> of off-pink condos ........
>
> Regardless, IF you've got the money this is getting to
> be a VERY good time to acquire some real-estate. It
> WILL rise again, of course ... but you'll have to pay
> the property taxes until it does. Three years, maybe
> five ... ?

The bubble on existing homes is finally bursting... Like the stock market,
the realestate market
is gowing through a correction and prices of existing home are starting to
decline back to
sane levels. The market was driven the last few years mostly by people
bying homes making quick cosmetic fixes and reselling them for a quick
profit or flipping... A move that raises the
market value of homes making the flipper a quick profit. Existing home
prices were being driven
up to outragious levels, compareable to new home prices. Now we have seen
the prices of existing homes have dropped as much as 15%, with the drop in
interest rates it is starting to look like a buyers market. But with the
country in recession it wont be much of a boon to helping out
the crippled economy.

 

[B1ackwater]

On Thu, 27 Mar 2008 09:38:18 -0500, "Heywood Jablowmi"
<hsquindo@optonline.net> wrote:

>
>"B1ackwater" <bw@barrk.net> wrote in message
>news:47ea6a5b.13312671@news.east.earthlink.net...
>> On Wed, 26 Mar 2008 10:31:12 -0400, Harry Hope <rivrvu@ix.netcom.com>
>> wrote:
>>
>>>
>>>From The Associated Press, 3/26/08:
>>>http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story
>>>
>>>New Home Sales Fall to 13-Year Low
>>>
>>>WASHINGTON (AP) --
>>>
>>>Sales of new homes fell in February for fourth straight month, pushing
>>>activity down to a 13-year low as the steep slump in housing
>>>continued.
>>>
>>>______________________________________________
>>>
>>>Yup. Another Repug in the White House, that's the answer, right?
>>
>>
>> Oddly though, there's been something of a jump, albeit
>> a small one, in sales of EXISTING homes. Dunno why.
>> Maybe it's easier to negotiate-down regular Joe homeowners
>> than some faceless mega-building-corp that's turned 200
>> acres of forest and pasture into a packed-in collection
>> of off-pink condos ........
>>
>> Regardless, IF you've got the money this is getting to
>> be a VERY good time to acquire some real-estate. It
>> WILL rise again, of course ... but you'll have to pay
>> the property taxes until it does. Three years, maybe
>> five ... ?
>
> The bubble on existing homes is finally bursting... Like the stock market,
>the realestate market
> is gowing through a correction and prices of existing home are starting to
>decline back to
> sane levels. The market was driven the last few years mostly by people
>bying homes making quick cosmetic fixes and reselling them for a quick
>profit or flipping... A move that raises the
> market value of homes making the flipper a quick profit. Existing home
>prices were being driven
> up to outragious levels, compareable to new home prices.

Yep ... gold fever ... everybody figured they could
buy and 'flip' for a major profit before the first
mortgage payment came due. Those who got in, and out,
early earned their gold - but by the time the masses got
wind of it, well, the party was over by then and they
got STUCK with their white elephants AND the outrageous
mortgage payments.

>Now we have seen
>the prices of existing homes have dropped as much as 15%, with the drop in
>interest rates it is starting to look like a buyers market. But with the
>country in recession it wont be much of a boon to helping out
>the crippled economy.

"Existing" is still outperforming "new" ... though
not by much anymore. The worst situations are in
places like Vegas and Florida where there was MASSIVE
over-building of houses, duplexes and condos. Thousands
upon thousands of acres of the things, still sitting
empty behind rusty gates. They'll probably rot before
they're sold ... just have to be torn down.

We saw the same thing, at a somwhat smaller scale, during
the Bush-1 recession. In some cases it's the SAME chunk
of land ... they tore down the derelict Bush-1 houses
and built Bush-2 houses - asking even more insane prices.
I guess if Jeb gets elected they'll tear down the Bush-2
houses and, well, guess ...

Is it the presidents and their policies so much - or
is STUPID just forever ? "Gold fever" just keeps coming
around and around like a flu virus every ten years give
or take. Wild speculation, lunatic expectations ... then
bitter reality steps in. Nobody LEARNS anything. Nobody's
any wiser.

(And don't tell me about Clintons wonderful economy. It
was a FAKE economy ... money dumped into the 'dot.com'
bubble ... also to be lost. Looked good on PAPER for
awhile though ...)

 

[OGExtremeOne]

GOOD TIME TO BUY YOU JACKASS LIBERAL

B1ackwater wrote:
> On Thu, 27 Mar 2008 09:38:18 -0500, "Heywood Jablowmi"
> <hsquindo@optonline.net> wrote:
>
>> "B1ackwater" <bw@barrk.net> wrote in message
>> news:47ea6a5b.13312671@news.east.earthlink.net...
>>> On Wed, 26 Mar 2008 10:31:12 -0400, Harry Hope <rivrvu@ix.netcom.com>
>>> wrote:
>>>
>>> >From The Associated Press, 3/26/08:
>>>> http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story
>>>>
>>>> New Home Sales Fall to 13-Year Low
>>>>
>>>> WASHINGTON (AP) --
>>>>
>>>> Sales of new homes fell in February for fourth straight month, pushing
>>>> activity down to a 13-year low as the steep slump in housing
>>>> continued.
>>>>
>>>> ______________________________________________
>>>>
>>>> Yup. Another Repug in the White House, that's the answer, right?
>>>
>>> Oddly though, there's been something of a jump, albeit
>>> a small one, in sales of EXISTING homes. Dunno why.
>>> Maybe it's easier to negotiate-down regular Joe homeowners
>>> than some faceless mega-building-corp that's turned 200
>>> acres of forest and pasture into a packed-in collection
>>> of off-pink condos ........
>>>
>>> Regardless, IF you've got the money this is getting to
>>> be a VERY good time to acquire some real-estate. It
>>> WILL rise again, of course ... but you'll have to pay
>>> the property taxes until it does. Three years, maybe
>>> five ... ?
>> The bubble on existing homes is finally bursting... Like the stock market,
>> the realestate market
>> is gowing through a correction and prices of existing home are starting to
>> decline back to
>> sane levels. The market was driven the last few years mostly by people
>> bying homes making quick cosmetic fixes and reselling them for a quick
>> profit or flipping... A move that raises the
>> market value of homes making the flipper a quick profit. Existing home
>> prices were being driven
>> up to outragious levels, compareable to new home prices.
>
> Yep ... gold fever ... everybody figured they could
> buy and 'flip' for a major profit before the first
> mortgage payment came due. Those who got in, and out,
> early earned their gold - but by the time the masses got
> wind of it, well, the party was over by then and they
> got STUCK with their white elephants AND the outrageous
> mortgage payments.
>
>> Now we have seen
>> the prices of existing homes have dropped as much as 15%, with the drop in
>> interest rates it is starting to look like a buyers market. But with the
>> country in recession it wont be much of a boon to helping out
>> the crippled economy.
>
> "Existing" is still outperforming "new" ... though
> not by much anymore. The worst situations are in
> places like Vegas and Florida where there was MASSIVE
> over-building of houses, duplexes and condos. Thousands
> upon thousands of acres of the things, still sitting
> empty behind rusty gates. They'll probably rot before
> they're sold ... just have to be torn down.
>
> We saw the same thing, at a somwhat smaller scale, during
> the Bush-1 recession. In some cases it's the SAME chunk
> of land ... they tore down the derelict Bush-1 houses
> and built Bush-2 houses - asking even more insane prices.
> I guess if Jeb gets elected they'll tear down the Bush-2
> houses and, well, guess ...
>
> Is it the presidents and their policies so much - or
> is STUPID just forever ? "Gold fever" just keeps coming
> around and around like a flu virus every ten years give
> or take. Wild speculation, lunatic expectations ... then
> bitter reality steps in. Nobody LEARNS anything. Nobody's
> any wiser.
>
> (And don't tell me about Clintons wonderful economy. It
> was a FAKE economy ... money dumped into the 'dot.com'
> bubble ... also to be lost. Looked good on PAPER for
> awhile though ...)
>

--

THE MORE YOU CAN GET COLOREDS TO READ, THE SOONER THEY FIND OUT
THAT THEY
ARE JUST CONSPICUOUSLY EXPLOITED COLOREDS WHICH ARE BLACK
STUPID ******S .
( JUMPIN BEAN EXTREME )
OGExtremeOne@dizum.com

What Is a " black stupid ****** " ?
By Dre Z.(dogg) Turdd
http://hnn.us/articles/1221.html
OGExtremeOne@dizum.com