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New home sales falling 2.2%

post #1 of 13
Thread Starter 

New home sales just in, -2.2%

 

ES stalled out at 1329.75 while we digest this news.

 

In the mean time here is the morning summary for everything just before the home sale numbers came out:

 

post #2 of 13
new home sales still lagging...to be expected...existing sales turn up first,,,with new sales still down it show we are not quite there yet....when they turn up then things will look a bit rosier
post #3 of 13
Thread Starter 

Market took a little breather on the new home sales, but AMZN moved up to new highs for the morning.

 

This market wants higher

post #4 of 13
Thread Starter 

CAT impressive here!

 

CAT

post #5 of 13
more so than home sales
post #6 of 13
Thread Starter 

ZeroHedge:

 

Looks like the earlier analysis that the US is slowly morphing into a second Japan just got even more confirmation. According to the Census Bureau (not NAR data, which we will hence ignore completely due to its consistent bias, error and overall worthlessness) December New Home Sales declined from 321K to a seasonally adjusted annualized rate of 307K in December, on expectations of a rise to 321K from last month's revised 315K. On a non-seasonally adjusted basis the US sold a whopping 21K homes, the lowest since January 2011. What is more troubling is that according to Bloomberg, the 2011 number of 302K sales is the lowest on record. So much for that housing recovery. And also confirming that there is not even a glimmer of hope for the US housing market is that the Median Price for new homes just dropped from $215,700 to $210,300, which is the lowest median price since October 2010. The chart below of pricing trends indicates all that is needed to know which way the housing market is going.

Median%20Home%20Price%20December.jpg

post #7 of 13
without housing we can only do so much and get so far...and it is not sustainable without it...housing is the single largest impact on our economy...housing = jobs =spending= disposable cash= investing=savings=business growth = more jobs = more spending............and so.....
post #8 of 13
Quote:
Originally Posted by kevin1612 View Post

without housing we can only do so much and get so far...and it is not sustainable without it...housing is the single largest impact on our economy...housing = jobs =spending= disposable cash= investing=savings=business growth = more jobs = more spending............and so.....


are you saying this economy sucks???

post #9 of 13

I feel like a jerk for saying this, but i never realized how much i value stock jock e's videos until I watched this pair :) 

i know this makes me a Shallow Hal, but yikes! Get some camera control in there T3! Either they are screwing around with her, telling her to look at the wrong camera, or they aren't giving her any clue as to which camera they are switching to.And is that the guy from the movie Boiler Room?

lol!

 

onto housing... if home sales are down, is that going to affect banks - people need loans to buy homes, etc?

are they not buying because banks aren't loaning,

or people don't have the credit score to qualify for a loan,

or people don't have the faith to buy a house in this economy?

 

do you predict the banks loosen their lending requirements,

the prices of housing is lowered to attract buyers,

or everyone just move to slab city?

post #10 of 13
Quote:
Originally Posted by tardistossoff View Post

I feel like a jerk for saying this, but i never realized how much i value stock jock e's videos until I watched this pair :) 

i know this makes me a Shallow Hal, but yikes! Get some camera control in there T3! Either they are screwing around with her, telling her to look at the wrong camera, or they aren't giving her any clue as to which camera they are switching to.And is that the guy from the movie Boiler Room?

lol!

 

onto housing... if home sales are down, is that going to affect banks - people need loans to buy homes, etc?

are they not buying because banks aren't loaning,

or people don't have the credit score to qualify for a loan,

or people don't have the faith to buy a house in this economy?

 

do you predict the banks loosen their lending requirements,

the prices of housing is lowered to attract buyers,

or everyone just move to slab city?

 

People do not qualify for a loan because of the housing bubble boom where everyone and everybody could obtain a mortgage pre-2008-2009 (MBS - Mortgage-Backed Securities). They (Wall street/Congress) were making Billions. Then commoners lost due to greed of big money (& human nature laughing.gif) & the Feds became part of the equation..Banks are now much more risk-averse & rigorous in identifying potential candidates in the of granting loans, since so many defaulted & Feds had to bail these greedy idiots out.

 

-So, no, banks are not loaning liberally.

-Since banks have taken a beating, credit scores have gone up in order to obtain a loan in an attempt to identify how banks can identify smarter/better investors & profit rewardingly from loans (the most lucrative portion of the business).

-If I had the capital to buy real estate, I would buy in a heartbeat. 10-15 years from now, I'd retire.

 

With the S&P 500 hitting resistance levels & DOW hitting resistance levels along with Europe problems, it's simple. what goes up must come down.  Banks will not loosen their lending req.s.

It does not matter what the price of houses are at the moment, b/c the avg. American does NOT want to take that big of a liability into their hands. Everyone will not move to slab cities. Prices will always adjust to accommodate demand & supply.

 

Scared money don't make no money though, so I will gladly buy your house @ your discounted rate. The only problem is where do I obtain capital?!?!? hmm.gif

post #11 of 13
Quote:
Originally Posted by tones View Post



are you saying this economy sucks???

reading btwn the lines are you ???
post #12 of 13

thanks for your reply

 

so I understand the reason for housing sales being so low, is that not many people can get loans to buy the houses, and those that can are not taking the risk because they don't have confidence in the current economy? this will be great dinner conversation with my pals at Taco Bell.

 

can you elaborate on this?

-If I had the capital to buy real estate, I would buy in a heartbeat. 10-15 years from now, I'd retire

 

i think about this and assume you are expecting the value of your housing investment to increase, then you sell it and retire from the profits. but if there is a housing bust, people are not buying, existing inventories should drop in price, etc., how can you expect housing to increase in value? is it because you're looking 10-15 years out, and expecting things will be in a boom by then? thanks

 

post #13 of 13
Thread Starter 
Quote:
Originally Posted by BlueHedgeInvest View Post

  1. BlueHedge invites Canadians for the exclusive first chance to #Invest with professional market leaders for a recession proof option. Invest today. Sustainable projects are ready to start and we’ll soon be listed on the exchange. Visit www.bluehedge.ca


Wow, that must be the worst attempt at spam I have seen in a long time!

 

Im going to leave it up for a while so others can enjoy it laughing.gif

 

This thread is about home sales.

 

You dont go onto a thread about home sales and try pitch your stuff... seriously, somebody needs to fire you for incompetence.

 

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