Wednesday, Apr 04, 2007
Bugga!!!!
Guardian: US property market perks up
Sales of existing US homes rose unexpectedly in February, new data showed today, calming fears of a slump in the housing market following recent turmoil in the sub-prime mortgage sector.
Posted by inbreda @ 08:21 AM (132 views) Add Comment
8 Comments
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1. Lloyd said...
This article contains no substance. It even goes so far as suggesting that the weather is so how to blame for the sub prime collapse. This is all about regaining confidence long enough for the big fish to get out. This happened with the .dot cons, and is sometimes referred to as the dead cat bounce. It may be in no ones intrest that there is a collapse of confidence, but a house of cards is a house of cards, a spade is a spade and a collapse is still a collapse nop matter how you dress it up.
2. Davros said...
In the whole context of the troubles in the US housing market, one months figures don't really mean alot, however they might try and spin it.
3. Lloyd said...
This article has no substance, it even suggests that the weather is to blame for the sub prime collapse??
This is all about giving the big fish time to bail out before the big crash, foll some of the people some of the time.
Also as the banks dump properties at bargain basement prices to get them off their books so there is bound to be a pick up.
A house of cards ready to tumble!
4. paul said...
The fundamental problem of credit drying up is not going to roll over and go back to sleep. The current market price levels in the UK and US are only supported as long as credit is very very cheap. Unless Japan suddenly decides to lower interest rates, this will not be the case for a long time.
5. harold said...
Anyone who thinks the housing downturn is over in the states is dead wrong. The subprime problem is starting to spill over into other mortgage areas:
http://www.bloomberg.com/apps/news?pid=20601170&sid=aJokNoiwQHwU&refer=home
This is a dead cat bounce phenomonon caused by people thinking that they are picking up a bargin as prices begin to fall. Far, far worse is yet to come. A 10-year housing boom is not corrected in 4 or 5 months.
6. royston said...
They expected slightly below zero. They got slightly above zero. - it's flat!!!!!!!!!!!!!!!
7. Fahrenheit451 said...
Hmm, So everyone says that UK and Europe are 6 months behind the US.
Well,
1) The US put up its base rate to 5.25% in June last year - We've put ours up in January this year.
2) 9 months after the US rate hit 5.25% theres a price crash and allegations of misselling mortgages.
Try comparing the US Federal Rate to the UK Base Rate.
http://www.moneycafe.com/library/fedfunds.htm#graph
That means in about JUNE we could expect the same here !!!
And when is Gordon Brown going to become PM, about June ???
This is going to be fun ...
8. Its A Waiting Game said...
The relevant part is:
'The index was down 8.5 percent from a year earlier'