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Existing home sales unexpectedly dip in April
Reuters ^
| May 19, 2011
| by Rachelle Younglai
Posted on 05/19/2011 9:27:20 AM PDT by Oldeconomybuyer
Sales of previously owned U.S. homes fell in April, a trade group said on Thursday, in a sign that the country's housing market is struggling to recover from the recent financial crisis.
Economists polled by Reuters ahead of the report were expecting home resales to rise to 5.2 million from the previously reported 5.1 million.
"The recovery is very sluggish," said the group's senior economist, Lawrence Yun, adding that unnecessarily tight credit is continuing to restrain the market.
About 37 percent of the market consisted of distressed sales, which include both foreclosures and sales of homes where the bank agrees to take less than what is owed.
(Excerpt) Read more at reuters.com ...
TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: failure; housingbubble; obamanomics; socialism; unexpected
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To: Oldeconomybuyer
Does any “expert” get anything the expect anymore.
2
posted on
05/19/2011 9:28:51 AM PDT
by
edcoil
(Democrats doing to America what Reagan did to russia. Driving it to bankrupcy.)
To: Oldeconomybuyer
I think I see the problem here. All these economists that they talk to seem to believe that the economy is improving. If everything that happens is unexpected, what does that say for what is really going on in the economy?
3
posted on
05/19/2011 9:30:14 AM PDT
by
fhayek
To: Oldeconomybuyer
Always use the Green Shoots brand for all of your economic recovery needs.
4
posted on
05/19/2011 9:31:12 AM PDT
by
central_va
( I won't be reconstructed and I do not give a damn.)
To: Oldeconomybuyer
5
posted on
05/19/2011 9:31:54 AM PDT
by
EternalVigilance
(GOP mantra: 'Repeal and replace.' Translation? 'We can do socialism better than the Democrats.')
To: Oldeconomybuyer
DRINK !
6
posted on
05/19/2011 9:33:29 AM PDT
by
OB1kNOb
(The stench of dependency is a sickening smell. Strive to become an asset, not a liability.)
To: Oldeconomybuyer
7
posted on
05/19/2011 9:34:03 AM PDT
by
EternalVigilance
(GOP mantra: 'Repeal and replace.' Translation? 'We can do socialism better than the Democrats.')
To: Oldeconomybuyer
You keep using that word. I do not think it means what you think it means.
8
posted on
05/19/2011 9:34:29 AM PDT
by
Jeff Chandler
(Just once I'd like someone to call me 'Sir' without adding 'You're making a scene.' - Homer Simpson)
To: Oldeconomybuyer
The way the lamestream media repeatedly talk about bad news in the "Obama Recovery" increasingly reminds me of those kids living in the oasis in
Mad Max Beyond Thunderdome, waiting for a decade or more for Captain Walker to return and take them to the bright, gleaming metropolis where all is wonderful.
One day, he'll be back...really, he will...he done told us in the tell...
9
posted on
05/19/2011 9:36:29 AM PDT
by
LostInBayport
(When there are more people riding in the cart than there are pulling it, the cart stops moving...)
To: Oldeconomybuyer
When every single bit of economic news is "unexpected", it's time to hire new expecters.
10
posted on
05/19/2011 9:37:46 AM PDT
by
dead
(I've got my eye out for Mullah Omar.)
To: Oldeconomybuyer
More green
shoots punji sticks.
11
posted on
05/19/2011 9:39:37 AM PDT
by
central_va
( I won't be reconstructed and I do not give a damn.)
To: Oldeconomybuyer
I’m starting to react to ‘unexpectedly’ the same way Samuel Jackson reacted to ‘What?’ in Pulp Fiction.
12
posted on
05/19/2011 9:40:15 AM PDT
by
AU72
To: Oldeconomybuyer
One blond says to another, “how did you die”? “I froze to death,” says the second. “That’s awful” says the first blonde. “How does it feel to freeze to death? “ “It’s very uncomfortable at first,” says the second blonde.
“You get the shakes, and you get pains in all your fingers and toes. But eventually, it’s a very calm way to go. You get numb and you kind of drift off, as if you’re sleeping. “ “How about you, how did you die? “ asked the second blonde.
“I had a heart attack,” says the first blonde. “You see I knew my husband was cheating on me, so one day I showed up at home unexpectedly. I ran up to the bedroom, and found him alone watching TV.
I ran to the basement, but no one was hiding there either. I ran to the second floor, but no one was hiding there either.
I ran as fast as I could to the attic, and just as I got there, I had a massive heart attack and died. The second blonde shakes her head. “What a pity . . . if you had only looked in the freezer, we’d both still be alive. “
13
posted on
05/19/2011 9:41:52 AM PDT
by
PSYCHO-FREEP
(Always Remember You're Unique.......(Just Like everyone Else.))
To: fhayek
I think that all of these surprises tells me more about the prognosticators than their predictions. Being more accurate than a weather forecast is not exactly high praise.
14
posted on
05/19/2011 9:44:32 AM PDT
by
Pecos
(Constitutionalist. Liberty and Honor will not die on my watch.)
To: Oldeconomybuyer
Of course it’s “unexpected”.
Anyone who supports the Obamaloon West Wing clown show of felon-cretins is not exactly at the top of the IQ chain.
To: Oldeconomybuyer
16
posted on
05/19/2011 9:46:11 AM PDT
by
Perdogg
(0bama got 0sama?? Really, was 0sama on the golf course?)
To: Oldeconomybuyer
"The recovery is very sluggish,"LMAO!!!
How do these people still use the word "recovery" with a straight face? It's like saying, "Helen Thomas is growing prettier slower than expected".
About 37 percent of the market consisted of distressed sales, which include both foreclosures and sales
Yeah. "Recovery".
To: Oldeconomybuyer
18
posted on
05/19/2011 9:46:50 AM PDT
by
Iron Munro
(Every day we now throw away things people will kill for after TEOTWAWKI)
To: PSYCHO-FREEP
19
posted on
05/19/2011 9:48:21 AM PDT
by
6SJ7
(atlasShruggedInd = TRUE)
To: Oldeconomybuyer
I expect home sales and home prices will continue to drop this year because of high unemployment and large inventory of distressed properties. But what do I know? I am not an expert.
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