The Comedian's "Economic Holocaust" ping list...
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Naw, this is old news. This week, everything is great. Existing sales are up 10% according to realtor.com. Some douchebag even called Rush touting what a ‘barnburner’ the economy was going to be next year.
All is well. Nothing to see here.
Thank God it was not the biggest in History
I’ve lost so much equity in my house I can no longer refinance and I have a credit score over 800. I’m not under water (yet).
Great news. This how we get those houses owned and occupied again. A classic example of a free market in action.
Any analysis about the price per square foot? Is this simply because builders are only building smaller, cheaper houses?
I do recall back in 050607 how everyone was a cockacrowing about the fantasmagorical rise in home “values”.
Gravity sucks.
This “plunge” is more accutarely a correction, a return to historical norms, a measure of sanity.
Sanity? Yes, when a ranch house in the Boston Metro area was going for 3/4 of a million dollars, you knew things were way outta whack.
Sucks is you’re a homeowner of a few years or have maxed out on equity loans, but for new buyers, this is pretty good.
Its all that hope and change economics....
Its reflective of positive expectations of how well the economy is doing and how we are rebounding! It demonstrates the optimism and support of Obama’s new and better world. Last week we were told how well the economy is doing and how Vegas! is coming back... (irrespective of Reids support groups opinions).
Even if this has already been posted, SHOUT IT OUT! This IS monumental!
In one single month Americans have lost 14% of their home equity?? (if anything's left.) This represents losing approximately $28,000 on a home that was valued at $200,000 just last month.
So what we have is the cratering of the single greatest source of American savings - the home.
Now gee - this wouldn't happen to have anything to do with a certain Republican President insisting that "everyone deserves to own a home"?...
... OR the Great Fannie Mae/Freddy Mac Debacle headed by Frank, Waters, and Dodd? Or TARP? Or 0bama's phantom "Stimulus Bill"? OR the regulations and policies by the America Whores of Parliament (and un-named Federal Reserve cabal) that drove American business, industry, and manufacturing to China, India, Mexico, and overseas?
For 20 years this Government has conspired to sabotage the American People, regulate us to death, redistribute our wealth, and selling this so-called "War on Terror" the American People as THE #1 Priority. I'm calling Bullsh*t in that. I'm d@mn sick of it, them, "Nation Building," and their "Global-First" policies.
I wonder if there is a clear title/deed on a new house and the land it sits on or did they use a derivative contract to finance the project?
The only markets that were up were Las Vegas and Washington DC. Las Vegas has fallen so far it has only one direction to go.
Washington DC is a specialized housing market for obvious reasons. Glad I’m a homeowner there!
There was a 2.5 percent rise in private residential construction in October. This is the biggest one-month gain since April.
Builders are probably trying to close out their inventory of unsold homes before the end of the year.
I’m not sure what this means. I read it to be, people are buying more modest sized homes rather than McMansions. I clearly understand housing has not bottomed and house prices continue their long gradual slide downward to some bottom off in the future, but a 14% drop in median NEW home prices just tells me that builders have rapidly adapted to a buyers market by building starter homes again.
And the best part....sellers of existing homes seem to have this collective delusion that it’s still 2005 and they can sell their homes for 2005 prices.
So the houses sit. And sit. And sit.