August housing looks pretty good. http://www.bbc.co.uk/news/business-19652560 Well good news. A stronger housing market is a sign of a stronger economy. I am sure some people will try to find a way to say this is bad news, or some excuse why it is doesn't matter, but the truth is that the economy is recovering, albiet slowly. But this economy is recovering faster than Bush's did after his recession and the country is headed in the right direction. I'll take that over some crazy voodoo economic crap that cutting taxes on the wealthy, creating more wealth disparity and increasing spending on the military is going to magically make the deficit shrink.... this time.
Saw this story earlier today. Very good news indeed. The US economy is never going to recover unless the housing market does. Doesn't fix the structural problems in our banking system, or the destruction of consumption outsourcing has led to, but still good news.
Yeah....sorry man, not gonna get a lot of action on this thread. Conservatives hate it when something good happens for America/ns.
From last year. Northeast 8.6% Midwest 17.9% South 11.1% West 0.0% Take from this data what you will. http://www.realtor.org/sites/defaul...12-08-ehs/ehs-08-2012-overview-2012-09-19.pdf
It's a mixed bag. I saw the stats but even with the low rates the first time buyer isn't able to enter the market unless he has perfect credit and a significant down payment. Much of the activity is with established home owners who have significant equity and capable of doing so. We are currently in the process of buying another home and there is a lot of activity in the refinancing area with the low rates. The underwater owners are precluded from entering the market. That is about 1/3 of present owners. I wouldn't read too much into these numbers just yet.
I hate to say this because QE3 is covering up the largest theft in the history of the world, but the banks will start loaning again once they can clear all the toxic assets out of their closets.
Well the problem with this money printing is that it will inevitably cause hyperinflation. Our money will become worthless. In point of fact, our dollar is worth only four cents of what it was worth since the FED was created. Prior to that time we went 150 years and the value of the dollar was stable.
I'm not concerned with inflation yet, what concerns me is 3 years from now when we are still printing money to spur economic demand, because 50-100 million middle class manufacturing jobs in the US and Europe have been destroyed in the last 20 years. That the majority of people believe you can destroy the world's middle class, and still have a functioning world economy, because a 5$ T-shirt at Wal-mart makes it worth it.
Oh nothing, I'm sure it was just Lehman, and Bear Stearns that had off book assets. I'm sure these banks accountants are honest, and we can take their word for it.
With the increases people are celebrating, the numbers are still far below a healthy economy. Facts are facts.
Well... we can agree upon that. The best book on the subject, written by a Liberal is "Crisis by Design".
By the off chance that was a real question, I am referring to how the banks cooked the books to hide the results of this failed experiment. http://www.dylanratigan.com/2012/02/16/the-financial-renegade-by-michael-hirsh/
