Posted on 05/31/2011 10:27:52 PM PDT by Jim 726
WASHINGTON — US home prices have sunk below levels seen during the "Great Recession," according to data revealed Tuesday, sparking renewed pessimism about a key pillar of the spluttering economic recovery.
Unless you are selling a house in Washington or buying one in Minnesota there is little cause to celebrate the state of the US housing sector.
Despite ultra-low borrowing rates, experts say a steady flow of repossessed homes onto the market, tighter bank lending rules and high unemployment have kept prices at rock bottom.
(Excerpt) Read more at google.com ...
This is... Unexpected!
What is this “recovery” we have been hearing about for the last 2 years? Do they think a recession is only a day, and everything after the day of the recession is a recovery? I’m not buying it. Too many unexpected economic events to declare a “recovery.”
How will they spin this news?
But, but last summer was the “Summer of recovery”.
Green Shoots
I think prices are still to high where I live in California
This is the summer of recoverization.
Get with the program sonny.
Don’t know why that would happen.
Watch this. (only takes a minute or two).
THE DECLINE: The Geography of a Recession
http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html
LOL......
Housing is in an 'unexpected' double-dip, 9 years of appreciation gone and not expected to bottom before next year. Economic growth was an actual 1.8% in Q1, not underestimated like they hoped. Jobless claims continue to be unexpectedly above expectations. Official unemployment went up because people started looking; it might go down when people give up looking again, finding no jobs.
They call this "soft patch" temporary. Seems like it's been a "soft patch" for 2 years.
With Republicans having "one half of one third of the government" and Dems being "the party of no" and refusing to offer its own proposals, we may get no real action on the economy until 2013. Who out here in the real world can wait that long?
These jerks can wait that long because they're wealthy, empowered and insulated from the middle and underclass's misery.
Every elected person in D.C. should be run out of town on a rail....after they’re tired and feathered. They all think of themselves as royalty and until we’re rid of them they’ll keep bringing this nation down. And that means EVERYONE in EVERY party. We need a great big SYSTEM RESTORE!
bookmark
Yesterday, Rush made the statement that we are entering our third revocery summer. Here we go again, same ol *** again.
revocery = recovery.
early moring.
They call this "soft patch" "quagmire" temporary. Seems like it's been a "soft patch" "quagmire" for 2 years.
Had to fix your typos...It's funny how a conservative can be making progress and it's called a quagmire - a commie can be pulling a Titanic and it's called a soft patch.
Revocery is what Obama is practicing on the constitution.
Unexpectedly unexpected...
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