Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-30 last
To: Oldeconomybuyer

I expected a dip, and there will be more dips until we get the dipsticks out of Washington.


21 posted on 05/19/2011 9:51:25 AM PDT by pallis
[ Post Reply | Private Reply | To 1 | View Replies]

To: forgotten man

The concept of an oversupply is beyond Keynesians.
And a majority of Freepers.

Some here still insist that those who accurately forecast the collapse of the housing bubble and its long term effects are practicing “voodoo.”


22 posted on 05/19/2011 10:08:02 AM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Oldeconomybuyer
"The recovery is very sluggish," said the group's senior economist, Lawrence Yun, adding that unnecessarily tight credit is continuing to restrain the market.

Lawrence Yun makes a pretty good living and all he has to do is keep a straight face and repeat that things are getting better and beg for more juice.

23 posted on 05/19/2011 10:08:09 AM PDT by Crichton
[ Post Reply | Private Reply | To 1 | View Replies]

To: forgotten man

There are lot of people from the new home industry who are out of work. This includes, sales people, construction managers, office workers AND especially management. These are people who’ve been in this industry their entire lives. And those over 50 can forget about changing career fields. It’s a lot worse than people think. If Bush was still president the media would be telling us just how bad it really is.


24 posted on 05/19/2011 10:08:09 AM PDT by Terry Mross (Only a SECOND party will get my vote.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Terry Mross

And I’m talking about Houston, by the way. Where it’s supposed to be rosy.


25 posted on 05/19/2011 10:09:51 AM PDT by Terry Mross (Only a SECOND party will get my vote.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: MrEdd
I'll bet this blog is amusing:

http://lawrenceyunwatch.blogspot.com/

Lawrence Yun Watch - Follow the NAR's hack as he denies the housing bubble and crash

26 posted on 05/19/2011 10:10:28 AM PDT by Crichton
[ Post Reply | Private Reply | To 22 | View Replies]

To: Oldeconomybuyer

Repeat this story once a month for the next ten years.


27 posted on 05/19/2011 10:45:46 AM PDT by Razzz42
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
“Unexpected” down turns across the economy is the direct result of incomplete education provided my our collegiate education system.

These economic “experts” were never taught that the very act of either buying or selling is a social act based on an extremely large universe of decisions. A significant part of that universe is socially driven. Have you ever heard of; “Keeping up with the Jones’, or “New and Improved” or watcher 1/3 of the nightly TV fare called advertisements?

28 posted on 05/19/2011 10:54:00 AM PDT by Nip (TANSTAAFL)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Crichton
adding that unnecessarily tight credit is continuing to restrain the market.

What universe does this guy inhabit. Interest rates for qualified buyers have never been lower. Wait till the Fed stops printing money and then you'll see some tight credit.

29 posted on 05/19/2011 11:07:20 AM PDT by Timocrat (Ingnorantia non excusat)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Oldeconomybuyer

My house has ‘DIPPED” so much,all I will be able to afford is one of those $100.homes in Detroit.


30 posted on 05/19/2011 11:30:17 AM PDT by peteyd (A dog may bite you in the ass,but it will never stab you in the back.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-30 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson