At the end of this month, the Fed will no longer be purchasing Mortgaged-Backed Securities.
They must know something most of the public hasn't quite realized yet ...
Posted on 03/03/2010 6:48:02 AM PST by xtinct
Economic signals have been all over the map lately, making it hard to get a handle on what's happening in the housing market and broader economy. Every now and again, it is of value to connect the dots -- the sort of thing U.S. intelligence agencies historically fail to do combating terrorism -- to get a truer picture of the state of the economy and real estate market.
With this in mind, let's look at some of the statistics that emerged in just the past seven days. It's fair to say that, when taken together, any reasonable person would be forced to conclude that the real estate market, despite talk of a budding economic recovery, is still very much in need of emergency care. Let's begin.
Even with the much blogged about extension of the tax credit for new home buyers, sales of existing homes actually fell in January by 7.2 percent, according to the National Association of Realtors.
In large part, existing homes, in many parts of the country, are foreclosed properties selling at vastly reduced rates. Yet even with the government tax credit beckoning "buy! buy! buy," Americans clearly are not heeding the call in large enough numbers.
But that's only, of course, one dot -- one part of the puzzle needed to complete our picture.
Only days before the release of the existing home sales report, another survey revealed that the sale of new homes reached its lowest levels since 1963!
New home sales, in many ways, are more important to the health of the economy than existing home sales because new homes mean construction and other jobs to build the houses in the first place. That has a ripple effect on the rest of our economy.
(Excerpt) Read more at housingwatch.com ...
That’s a worse situation - the county is wanted to inflate your assessment to dishonestly tax you.
Yes it is....and to top that off, landlords have raised rents to all time highs trying to profit from those who have been through foreclosure.....
How about giving refi loans at good rates to those with 800 credit ratings and excellent mortgage paying history and documented income as opposed to doling out our tax money to underwater cheats whom have 400 credit scores, no money in the bank nor the desire to really stay afloat....
The democrats' goal is to crush the US economy and US spirit, so as to intall a third rate European socialist system. With a permanent democrat/socialist bureaucracy immune to the voters.
Their per-capita “consumption” as as absolutely minimal as possible.
They buy rice in 20 lb bags. They do not have any record of income, so are entitled to all of the free “safety net” things that the government can give away. They get food at food banks, do not have auto insurance, etc. I agree with DW.
Bare land is even worse.
It’s all of these: cheap labor, more consumers, a need to replace a declining population and avoid Europe’s aging problem, and national security. Historically, the country with the most people wins. That may not hold true in this new age of high technology, but I really don’t want to find out.
We need immigrants because we’re not reproducing at historical levels. The trick is control, finding a way to assimilate hard-working immigrants into the society and make them patriotic Americans.
Mexican families are, for the most part, conservative, hard-working, family-oriented, and loyal. Good folks who would make good Americans, except that good folks shouldn’t sneak across the border illegally.
We’ve got to find a way to manage the flow, make it a law-abiding process.
In 2005 were the home sales driven by fleeing Californians?
I know NV, Id and to some extent UTah and MT were overrun with expat CAliflowers in the period 2000-2007, now they have no money and so the boom is over.
We saw a smaller version of this in the 80s when the Califlower real estate market boomed (overheated) and some folks split then....
Yup - we are in North Idaho - most of the inflated sales were purchased by out of state investors
What do you think their plan is? Why would they want to change a proven way of lifting so many people out of poverty? I hope that they fail!
They must know something most of the public hasn't quite realized yet ...
I am very sure they do.....
“What do you think their plan is? “
To wipe out the middle class, and have the vast majority dependent on the government. That has been the Obama goal for at least 25 years.
This will make mortgages unavailable for even strong borrowers.
“The democrats’ goal is to crush the US economy and US spirit, so as to intall a third rate European socialist system. With a permanent democrat/socialist bureaucracy immune to the voters. “
Verbatim
As I understand it, Mexico is now undergoing a major fertility decline, much more precipitous than the one we have had here.
The solution is not to take their people away, which makes their situation worse, and falls short of fixing our own anyway.
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