Posted on 09/26/2011 4:30:18 PM PDT by Oldeconomybuyer
WASHINGTON (AP) -- The home-buying season was a bust.
March through August are typically the peak buying months. But this time, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago.
And sales of previously occupied homes didn't fare much better. They nearly matched 2009's total for the peak buying months. And that was the worst since 1997.
Combined, total sales this spring and summer were the weakest on records dating to 1963. The figures underscore how badly the housing market is faring and suggest that a recovery is years away.
(Excerpt) Read more at finance.yahoo.com ...
...real estate (and its spinoffs) is the largest industry. Thank you for the help Obama.
“Shake it off. Stop complaining, stop grumbling, stop crying. We are going to press on.”
A motivational speech from the black knight in Monty Python.
Actually an excellent time to buy a house if you can afford it.. daughter is a first time buyer at 3.25% on a small home.
Some of the larger paper holders(BOA) are going to full appraisal to try and balance their sheets. A full rebuild appraisal is a lie in most cases. but it is BOA.
Some of the larger paper holders(BOA) are going to full appraisal to try and balance their sheets. A full rebuild appraisal is a lie in most cases. but it is BOA.
thanks to the democrats.
Hiccup.
If property was permited to sell at its value, not propped up at its taxation value, sales would be robust.
something tells me next year will be worse
Eat your peas!
Funny, I bought a house about 6 weeks ago. Saw it, made an offer in 4 hours. Did a 3 week escrow.
Sold my previous home the first day with two back up offers well in excess of my selling price. One all cash.
Recovery is a new president away.
...take a deep breath.... the spawn of AP Giannini is bust...
We have friends that sold their home in 4 days. They purchased one that had been on the market 1 day (nice lakefront cottage for 2).
Depends where you are. Nothing much is moving here in Florida. Those that do are getting low ball offers.
Ground up appraisals is the way to ‘balance’ these ‘sheets’. Did your man pay his dues?
Over the next twenty years, a whole lot of us Baby Boomers are going to die off or move to places for old folks. Maybe the real estate market will perk up after that. Just thought I’d cheer you up a little more. ;-)
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