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Realistbear

U S Unsold Inventory Highest Since 1998

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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.

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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. ;)

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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 :unsure:

Edited by BuyingBear

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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.

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And the fact over two thirds of GDP and job growth over the last 5 years is construction related :unsure:

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!

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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.

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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.

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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.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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