[Always Right]

This is horrible. Sales are up from last month and were much higher than expected. Inventories are declining. Amazingly, prices were even up. Sales were down from last year, but we are in a downturn. Looks like bottom may have been hit, especially if the Fed comes through with the rate cut next month. Horrible news for the bubble heads though who seem gleeful at the prospects of massive bankruptcies and people losing their life's savings.

[Always Right]

Wonder why none of the local bubble heads posted this? They are so quick to post the bad news.

[pissant]

We’re dooooomed.

[BlabItGrabIt]

But...BUT...the head honcho of Countrywide said--just yesterday--THE ENTIRE WORLD IS GOING INTO RECESSION, BECAUSE OF THE HOUSING RECESSION??

Who do you believe? People saying, "it looks as if...," "In 1987 it was just like...." "Economists all agree... ."

Or facts???????

[TXLibertarian]

Looks like bottom may have been hit, especially if the Fed comes through with the rate cut next month.

This news, along with strong durable goods orders, continued low unemployment rates, equity markets within 5% of their 52-week highs, and inflation rates slightly higher than the Fed's comfort zone indicate that a rate cut may not be necessary next month.

[Southack]

We’re not dead yet.

[bray]

The Surge is Working and the Rats are in the Trap

Pray for W and Our Troops

[N3WBI3]

Sales are down 10.2% compared with last July. Read the full report.

Sales of homes are cars month over month are a lot less telling than sales year over year... You mean more people bough houses in July during the summer than June when their kids were in school? *GASP*

Looks like bottom may have been hit, especially if the Fed comes through with the rate cut next month.

That is quite possible and would be good news.

Horrible news for the bubble heads though who seem gleeful at the prospects of massive bankruptcies and people losing their life's savings.

While they may or may not be wrong (im on the fence) but I dont see people being gleeful..

[driftless2]

"horrible news"

I'm neither an expert on mortgages nor the economy, but I'm always perplexed by the people who are always declaring doom whenever there's a downturn in the economy. They never say that things will be slightly down. They always predict complete and utter disaster with millions of Americans lining up for bread rations and a blanket.

[tcrlaf]

20 postings, and not ONE mention of the MORTGAGE FRAUD, much of it in the Inner-city, that is driving this thing...

[capitalist229]

There are trillions of credit derivatives about to crash the entire planet not just the USA.

Buy US Treasuries and stay safe.

BUMP

[Mr. Jeeves]

Sales of new home increased 2.8% in July to a seasonally adjusted annual rate of 870,000 as the inventory of homes for sale dropped for a fourth straight month, the Commerce Department estimated Friday.

And given all the heat aimed at Bernanke and the Fed lately, exactly how much pressure do you think the Commerce Department is under to fudge the numbers right now?

I don't think any Federal Government economic statistic can be trusted - good news, or bad. The numbers are shaped to achieve a given political result. Sales and prices might in fact be up, but I'd like to hear it from an unbiased source.

[RightWhale]

All the local ‘for sale by owner’ signs have disappeared in the past week. Must be something happening: possibly the announcement of the PFD being $1600.

[dragnet2]

WOW!

Sales rose 22.4% in the West

Sales fell 24.3% in the Northeast

[Iwo Jima]

Why do you post such nonsense?