Realistbear Posted February 28, 2006 Share Posted February 28, 2006 http://www.iii.co.uk/news/?type=afxnews&ar...&action=article WASHINGTON (AFX) -- Resales of U.S. homes fell 2.8% in January to a seasonally adjusted annualized rate of 6.56 million, the lowest in two years, the National Association of Realtors said Tuesday. Sales are down 5.2% since January 2005. It's the fifth consecutive monthly decline. The inventory of unsold homes on the market increased 2.4% to 2.91 million, a 5.3-month supply at the January sales pace. That supply is the largest since August 1998 . "Demand is dropping and supply is rising," said Joel Naroff, president of Naroff Economic Advisers. "It doesn't take a Ph.D. in economics to know what the implication of that is: It's Wal-Mart time - 'Watch out for falling prices!'" Further confirmation from accross the pond that the crash is moving ahead. It would be nice to see more of this kind of reporting here wouldn't it? Not much "flying off the shelves" in the US right now. Quote Link to comment Share on other sites More sharing options...
jonpo Posted February 28, 2006 Share Posted February 28, 2006 Hey Consumer confidence is at 3 month low too. they got a bonna fide goldilockx economy over theyre apart from the Debt and the inflation. Quote Link to comment Share on other sites More sharing options...
Guest Winners and Losers Posted February 28, 2006 Share Posted February 28, 2006 Are we gonna party like its 1999??? Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted February 28, 2006 Share Posted February 28, 2006 (edited) Hey Consumer confidence is at 3 month low too. they got a bonna fide goldilockx economy over theyre apart from the Debt and the inflation. And the fact over two thirds of GDP and job growth over the last 5 years is construction related Edited February 28, 2006 by BuyingBear Quote Link to comment Share on other sites More sharing options...
Xurbia Posted February 28, 2006 Share Posted February 28, 2006 That headline is splashed right across the front of business section today. Big, big story out here. There's a lot of spin about how it's not seen as a crash. Quote Link to comment Share on other sites More sharing options...
Karen Posted February 28, 2006 Share Posted February 28, 2006 And the fact over two thirds of GDP and job growth over the last 5 years is construction related Constrution or real estate related? I had heard real estate related. My husband and I have allready had more than one talk about empty houses...Once construction stops...WATCH OUT! Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted February 28, 2006 Share Posted February 28, 2006 That headline is splashed right across the front of business section today. Big, big story out here. There's a lot of spin about how it's not seen as a crash. Just a another 'inverse increase' then. Quote Link to comment Share on other sites More sharing options...
look to the past Posted February 28, 2006 Share Posted February 28, 2006 Apparently it’s not a crash – it’s just unseasonable weather http://uk.biz.yahoo.com/060228/244/g563x.html While sales activity appears to be slowing, the unusual sales patterns in recent months -- and the unseasonable weather -- makes the "leading" role of new home sales difficult to apply. The spring will be crucial for evaluating the current strength in the housing sector and sales trends for both new and existing homes. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 28, 2006 Author Share Posted February 28, 2006 Apparently it’s not a crash – it’s just unseasonable weather http://uk.biz.yahoo.com/060228/244/g563x.html While sales activity appears to be slowing, the unusual sales patterns in recent months -- and the unseasonable weather -- makes the "leading" role of new home sales difficult to apply. The spring will be crucial for evaluating the current strength in the housing sector and sales trends for both new and existing homes. Apparently, it was not the weather as the US reported unseasonable good weather this winter making the news of slowing sales that much worse: http://www.builderonline.com/industry-news...rticleID=264331 WASHINGTON - The backlog of unsold new homes reached a record level last month, as sales slipped despite the warmest January in more than 100 years. My guess is that the market will be in freefall by the Spring. Quote Link to comment Share on other sites More sharing options...
jonpo Posted March 1, 2006 Share Posted March 1, 2006 Latin america is pulling out of the US dollar. http://www.miami.com/mld/miamiherald/busin...ca/13976954.htm thats gotta help the US economy right ? Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted March 1, 2006 Share Posted March 1, 2006 More like 1989... Or 1979. Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted March 1, 2006 Share Posted March 1, 2006 I remember, I was there... How's about 1929 Yankee Styli? Or 1789. Don't say we have to wait until 2009. Quote Link to comment Share on other sites More sharing options...
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