[SoFloFreeper]

just off the wire. Just yesterday the MSM were screaming about proof of a housing bubble. They just keep HOPING for bad economic news. This must not be good news for the 'rats or the MSM.

[theDentist]

Doncha hate it when a housing bubble just refuses to burst time after time, month after month, year after year?

[SoFloFreeper]

MORE: WASHINGTON (AP) -- Sales of new homes soared at a record pace in October in what could be a last hurrah for the booming housing market. The Commerce Department said that sales of new single-family homes shot up by 13 percent last month, the biggest one-month gain in more than 12 years. The increase pushed sales to an all-time high seasonally adjusted annual rate of 1.42 million units. The increase confounded analysts who had been predicting that new home sales would decline by 1.8 percent, reflecting continued increases in mortgage rates. It was possible that the unexpected surge reflected a final rush by buyers to get into the market before mortgage rates climb higher.

...in what could be a last hurrah for the booming housing market.

Aww...I see, they have to add that in the lead to TEMPER the good news. LOL.

[bigsigh]

let me know when the popluation goes down and I'll be worried.

[apackof2]

PLease ping all the sky is falling posters who "prophesied" a major housing bubble

[pissant]

But how can people be buying homes? They all work at Walmart for $7 hour?

[Fierce Allegiance]

But, but, but, what about the bubble?

[adam_az]

Expect a certain doom n gloom texan freeper to avoid this thread like the plague.

[adam_az]

ping, sourpuss. :)

[austinite]

Remember, it's different this time.

[silverleaf]

Ruh Roh... those who prophesy, and await the coming of the bursting bubble .... may just get a fat wet raspberry instead.

[Mo1]

Well there goes another DNC talking point

[dawn53]

Just read this in our local paper this AM. Our area's prices are still rising.

http://www.sptimes.com/2005/11/29/Business/Bay_area_home_prices_.shtml

[Rutles4Ever]

Surging new home sales are more indicative of a bubble than not. What you're witnessing is a "blow-off top". Mortgage rates are rising and anyone on the fence is deciding to jump in now before they're priced out.

Whether or not there's a "bubble" is debatable, but in some real estate markets, it's pretty clear that prices have gotten way out of hand (e.g. San Diego)

[trebb]

Yep - they were gloating about a decrease in used home sales, now we find that new home sales are on the rise - still...

[Dems_R_Losers]

Alan Greenspan is deeply saddened..........

[Paradox]

I am unable to afford a house in South Florida at this time, I may have to move to another state. I have been sorta hoping for a bubble "burst", not a full burst, just a tempering of pricing. Prices down here are insane, really, I think we will make California pricing look decent.

[Hoodlum91]

Judging from the DC area market, a good reason they "soared" was the new incentives and lower prices. Everything on the market now has free upgrades, help with closing costs, and yes, priced about 10% lower than they were last spring.

[golas1964]

NPIDS

[JohnnyZ]

WE'RE DOOMED!!!

[staytrue]

It is possible that this is a Katrina bump.

Destroy 1 million or so houses in 3 states and you might see a surge in demand for new houses since the old houses are gone.