Don’t worry - he’ll get more than 81 million votes next time. The TV will remind us he is still the most popular President ever!
The greatest economy of all time.
(At least if you’ve got a good Ukraine grift going)
Really wish the phrase “negative growth” was kicked to the curb. “Decline”, ie. “seventeen months of decline” is shorter and not obtuse.
Those numbers might be off.
WASHINGTON, May 23 (Reuters) - Sales of new U.S. single-family homes jumped to a 13-month high in April, boosted by a persistent shortage of previously owned houses on the market and a sharp decline in prices from last year’s lofty levels.
The report from the Commerce Department on Tuesday followed on the heels of data last week showing a surge in permits for future single-family housing construction. With confidence among homebuilders rising to a 10-month high in May, there are no signs yet that a recent tightening in credit conditions are weighing on the housing market, the sector hardest hit by the Federal Reserve’s fastest interest rate hiking cycle since the 1980s.
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“The evidence continues to accumulate that the housing market may have largely adjusted to the higher level of mortgage rates but the decline in the median home price is consistent with the hypothesis that home builders may be tailoring the construction of new homes towards first-time buyers,” said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.
New home sales increased 4.1% to a seasonally adjusted annual rate of 683,000 units last month, the highest level since March 2022. March’s sales pace was revised lower to 656,000 units from the previously reported 683,000.
People bought homes on 3% mortgages under Trump.
They are not going to sell those homes and get a new 6% mortgage for another house.
What mortgage companies have to do is to allow people to roll over into another house at say only a .5% interest rate rise.
Don’t blame Biden for mortgage industry stupidity.
Trumps fault, don’t you see?
Wow. Is that a record?
Oh please! This is all transitory and the economy is booming if you live in the DC environs.
Fortunately my niece and her husband sold their house in less than a week. They had originally lived in it, and my sister-in-law lived across the street in her old family home. As my niece’s family grew, they changed houses for more space. My sister-in-law recently moved in with them because of health reasons, so they decided to sell the other house. They only owed about $20,000 on it. I was a little concerned they wouldn’t be able to get rid of it because of the market, but it sold in less than a week. They lucked out, because the new owner of the golf course down the road is trying to expand the business, making improvements to the course, the clubhouse, the restaurant, etc., and is buying up homes in the area, to turn into rental properties for people who come to play the course. Hope he’s successful.
The former a hole you mentioned was on radio today saying he has cut deficit 1.7T this year. No one asked where exactly? I am so tired of those POSs there refusing to see the path we are on other then to score political points. I wish DC would cease to exist.
Home sales plunge is no accident the democrats want massive apartment complexes all over the country to house his imported power keepers.
Everything the democrats have done is a plan to maintain power and control one could say THEY wrote the 1984 book by their actions.