Posted on 02/26/2010 10:15:28 AM PST by Need4Truth
The recent slump in housing is making some analysts uneasy about a recovery that many thought sustainable just a couple months ago and comes at a time when the Federal Reserve is nearing the end of a critical, year-long program to support the mortgage market.
...
New homes sales fell to a record low in January, extending a two-month slide; pending and existing home sales were down in December; homebuilder sentiment in January fell back to where it was last June, and mortgage applications have fallen three of the past four weeks,
(Excerpt) Read more at finance.yahoo.com ...
this is completely UNEXPECTED!
He said another drop in prices is coming and not to buy any house right now.
What freaking recovery?
I don’t understand. What recovery are they talking about, and who expected it?
The recent slump in housing is making some analysts uneasy about a recovery that many thought sustainable just a couple months ago and comes at a time when the Federal Reserve is nearing the end of a critical, year-long program to support the mortgage market.
Given the admission that the mortgage market was being artificially propped-up by FedRes antics, how could anyone ever possibly think "the recovery" was sustainable, or even real?
Seriously?!?!
I want to throw something.
Not expected by whom? Those who keep spewing magic pony pixie dust about some fantasy “recovery”?
(BTW, magic pony pixie dust is a substance that looks suspiciously like good ol’ fashioned pony poop with powered sugar sprinkled on top.)
So let it be written. So let it be done.
But Obama isn't pharaoh. He is the Emperor without clothes.
How can this be? We’ve been in recovery now for months.
It's global warming. The west coast has been soaked with rains and the east coast with snow storms.
The recession is soooooooo yesterday.
>>I want to throw something.<<
I just laugh. People thought I was nuts in 2006 when I said this could get as bad or worse than the GD. People thought I was nuts when I said that maybe the R’s did not want to win in 2008 because they didn’t want to be blamed for what was coming.
Meanwhile, I bought my farm in central Kentucky in Oct. of 2008 as a place to retire but also as a place where I can be completely self sufficient and 80 miles from the nearest Urban center. That 80 miles is a buffer full of people like me.
Not that I expect Road Warrior or Red Dawn, but I fully expect this to end up with social unrest all over the world - including the US - followed by war.
My personal solution is not foolproof, but it is way better than hanging out in the city or burbs just waiting for it to hit the fan. And it WILL hit the fan. The question is only about degree.
The recession is soooooooo yesterday.
My kids have been trying to buy their first home for months now. They are approved and have VA financing all lined up, but they can’t get a single bank to seel to them. They are frustrated and ready to give up.
sorry...was carrying on the meme that we have been subjected to regarding economic data...illustrating absurdity by being absurd and all that...
Has anybody heard any news on whether Obama might extend the First Time Home Buyers Credit beyond 04/30/10??
Yeah, they keep telling us it's over. What they aren't saying is now the Depression begins...
I think that’s close enough for a DRINK!
so unexpected! ;)
If it gets as bad as the Great Depression, it will be worse than the Great Depression. Primary reason? In the early part of the 20th Century, America was still very much able to feed and clothe itself. Reliance on family and friends was greater, and folks more readily banded together to survive.
Today, not so much. Big cities would essentially turn into Lord of the Flies experiments.
“Has anybody heard any news on whether Obama might extend the First Time Home Buyers Credit beyond 04/30/10??”
I am sure they will try, they need to prop up the market until at least the 2nd week in November
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