What happened to all of the doom and gloom economic threads?

[Frisco_Slug_Esq]

Got some good news from USA Today for us today U_D?

 

[Ulaven_Demorte]

Got some good news from USA Today for us today U_D?

Bankruptcy filings have dropped significantly, both personal and business.
Bloomberg's consumer Confidence rating is up.
Both new and existing home sales are on the rise.
New housing starts are expected to remain steady through the end of the year.

It's not looking good for the "end of the financial world" as predicted by so many on the "right".

DOn't worry, you can keep predicting that "double dip" until we actually get another one.

 

[Beco]

Bankruptcy filings have dropped significantly, both personal and business.
Bloomberg's consumer Confidence rating is up.
Both new and existing home sales are on the rise.
New housing starts are expected to remain steady through the end of the year.

It's not looking good for the "end of the financial world" as predicted by so many on the "right".

DOn't worry, you can keep predicting that "double dip" until we actually get another one.

Pending home sales plummet in April
LA Times, May 28

The National Assn. of Realtors says its index for pending home sales fell 11.6% from March and 26.5% from a year earlier, a sign of weakness as the spring shopping season starts.

Though the factors in favor of buying are many, including interest rates… (Lucy Nicholson, Reuters)May 28, 2011|By Alejandro Lazo, Los Angeles TimesPending sales of previously owned homes took a tumble in April, according to data from an industry group, a foreboding sign that the key spring shopping season is off to a weak start.

The National Assn. of Realtors said Friday that its index for pending home sales, which is based on the number of contracts signed each month, fell 11.6% from March and was down 26.5% from the same month last year. The drop in the index was another indicator that buyers are scarce.

 

[Ulaven_Demorte]

I havent seen where new and existing home sales are on the rise, just that prices are still dropping.

https://www.economy.com/home/login/...o/release.asp&r=usa_home_sales&tkr=1105300924

Against expectations, sales of new homes increased by 7.3% in April to an annualized pace of 323,000 units. Months of supply also improved, falling to 6.5, the lowest reading since mid-2010, from 7.2. The median new-house price increased 5% from one year ago.

 

[Frisco_Slug_Esq]

28% of existing home sales are foreclosure sales...

Spring is traditionally the best time economically, and this was a flat Spring.

Meanwhile, in Canada, they're seeing 3.9% growth:
http://www.bloomberg.com/news/2011-...nds-at-3-9-pace-fastest-growth-in-a-year.html

And in the US, consumer spending is down as food and gas eat into our stagnant wages:
http://www.bloomberg.com/news/2011-...-less-than-estimated-on-food-fuel-prices.html

This IS the Obama economy and what we've been telling you it would come to, a repeat of Japan's Lost Decade and in the end, as we see in Japan, a lack of world-wide economic power. For two years you've been demanding we show you the doom and gloom while you painted a rosy picture of the future and now you renew your demands that we tell you when the doom and gloom is going to hit without really showing us any prospect of a better future, always putting off until a few more months down the road.



Are you going to make your annual "Summer of Recovery" prediction?

Adding a fourth shift?

Orders up 4000%?

I suggest you go back a page and read some rather sobering facts...

 

[Frisco_Slug_Esq]

Pending home sales plummet in April
LA Times, May 28

The National Assn. of Realtors says its index for pending home sales fell 11.6% from March and 26.5% from a year earlier, a sign of weakness as the spring shopping season starts.

Though the factors in favor of buying are many, including interest rates… (Lucy Nicholson, Reuters)May 28, 2011|By Alejandro Lazo, Los Angeles TimesPending sales of previously owned homes took a tumble in April, according to data from an industry group, a foreboding sign that the key spring shopping season is off to a weak start.

The National Assn. of Realtors said Friday that its index for pending home sales, which is based on the number of contracts signed each month, fell 11.6% from March and was down 26.5% from the same month last year. The drop in the index was another indicator that buyers are scarce.

What do you have to say now U_D?

 

[Beco]

https://www.economy.com/home/login/...o/release.asp&r=usa_home_sales&tkr=1105300924

Against expectations, sales of new homes increased by 7.3% in April to an annualized pace of 323,000 units. Months of supply also improved, falling to 6.5, the lowest reading since mid-2010, from 7.2. The median new-house price increased 5% from one year ago.

By Robbie Whelan
Commerce Department numbers out today show that home construction fell again in April, yet another disappointing indication that the home-building sector remains in the doldrums, and that housing may continue to drag on the economy for some time.

Housing starts, which gauge new home construction, fell 23.9% in April, compared with a year earlier, and suggest that only 523,000 new homes will be built this year. At the height of the housing boom, nearly 1.5 million new homes were being built each year. In March of this year, builders were building at a seasonally adjusted rate of 585,000 homes annually. Most economists had predicted that housing starts would rise. Permits for new homes also fell, by 4%, indicating that we’ll see fewer starts in months to come.

 

[Frisco_Slug_Esq]

That sounds like about a million short to me U_D...





That's going to really hurt durable goods orders.

 

[Beco]

UD?? UD??

where did he go?

 

[JenAltArmy]

UD?? UD??

where did he go?

UD is full of crap

 

[Beco]

UD is full of crap

sorry to say...was hoping he had something. I felt good for a second until I started investigating his post.

 

[koalabear]

UD?? UD??

where did he go?

He's trying to get hold of Soros, he'll be right back.

 

[unregistered]

 

[Ulaven_Demorte]

Pending home sales plummet in April
LA Times, May 28

The National Assn. of Realtors says its index for pending home sales fell 11.6% from March and 26.5% from a year earlier, a sign of weakness as the spring shopping season starts.

Though the factors in favor of buying are many, including interest rates… (Lucy Nicholson, Reuters)May 28, 2011|By Alejandro Lazo, Los Angeles TimesPending sales of previously owned homes took a tumble in April, according to data from an industry group, a foreboding sign that the key spring shopping season is off to a weak start.

The National Assn. of Realtors said Friday that its index for pending home sales, which is based on the number of contracts signed each month, fell 11.6% from March and was down 26.5% from the same month last year. The drop in the index was another indicator that buyers are scarce.

http://www.realestateabc.com/outlook.htm

Existing U.S. home sales rose in March, according to the National Association of Realtors, a sign of a slowly-but-surely recovering economy.

“Existing-home sales have risen in six of the past eight months, so we’re clearly on a recovery path,” said Lawrence Yun, NAR chief economist. “With rising jobs and excellent affordability conditions, we project moderate improvements into 2012, but not every month will show a gain – primarily because some buyers are finding it too difficult to obtain a mortgage. For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows.”

It would appear that the chief economist of the association that your article used as it's source is much more opptomistic than the writers who interpreted the data.

 

[koalabear]

http://www.realestateabc.com/outlook.htm

Existing U.S. home sales rose in March, according to the National Association of Realtors, a sign of a slowly-but-surely recovering economy.

“Existing-home sales have risen in six of the past eight months, so we’re clearly on a recovery path,” said Lawrence Yun, NAR chief economist. “With rising jobs and excellent affordability conditions, we project moderate improvements into 2012, but not every month will show a gain – primarily because some buyers are finding it too difficult to obtain a mortgage. For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows.”

It would appear that the chief economist of the association that your article used as it's source is much more opptomistic than the writers who interpreted the data.

You left out that Fannie & Freddie need yet another bailout, things are booming.

 

[Ulaven_Demorte]

28% of existing home sales are foreclosure sales...

Spring is traditionally the best time economically, and this was a flat Spring.

Meanwhile, in Canada, they're seeing 3.9% growth:
http://www.bloomberg.com/news/2011-...nds-at-3-9-pace-fastest-growth-in-a-year.html

And in the US, consumer spending is down as food and gas eat into our stagnant wages:
http://www.bloomberg.com/news/2011-...-less-than-estimated-on-food-fuel-prices.html

This IS the Obama economy and what we've been telling you it would come to, a repeat of Japan's Lost Decade and in the end, as we see in Japan, a lack of world-wide economic power. For two years you've been demanding we show you the doom and gloom while you painted a rosy picture of the future and now you renew your demands that we tell you when the doom and gloom is going to hit without really showing us any prospect of a better future, always putting off until a few more months down the road.



Are you going to make your annual "Summer of Recovery" prediction?

Adding a fourth shift?

Orders up 4000%?

I suggest you go back a page and read some rather sobering facts...

Of course the homes that went into foreclosure are selling.. Did you expect them to sit empty forever or to be torn down?

Good for Canada.. Now maybe you can point out the housing sales figures for Mexico city as if that matters.

Someone should tell the WSJ and the Commerce Department that consumer spending is down.
http://online.wsj.com/article/SB10001424052748704471904576228364221026454.html
Consumer Spending Keeps Rising

U.S. consumer spending rose 0.7% in February, the largest increase since October and the eighth straight month of gains, easing some worries about the economic recovery.

After adjusting for inflation—factoring out such things as the jump in gas prices—consumption rose 0.3%, the Commerce Department said Monday.

"Consumers could have endured these higher [gasoline] prices by cutting back on discretionary purchases, but they did not," said Ken Mayland, president of ClearView Economics.

 

[Ulaven_Demorte]

....

What?

 

[koalabear]

What?

When?

 

[Beco]

WSJ May 27th

That was fast.

On Thursday, we wrote about Toll Brothers’ solid quarterly results and April’s strong new-home sales. It seemed that maybe, just maybe, recovery was inching closer.

Well, Friday brought a disappointing statistic: The National Association of Realtors’ seasonally adjusted index for pending sales of existing homes plunged 11.6% on a monthly basis to 81.9, the industry group said Friday. As we report, the index, which tracks agreements to purchase homes, had increased the two previous months. A reading of 100 refers to the level of sales in 2001. The reading indicates more pain lies ahead.

Good numbers. Bad numbers. It’s hard to make sense of all these data points. Here’s how industry watchers viewed today’s report: (Hint: They’re not optimistic.)

Adrian Miller, senior vice president, Miller Tabak: “What can you say about the housing market that hasn’t already been said? Sales will continue to underwhelm at best and be outright horrible at worst as the decline in prices remains unabated. As long as we have a supply overhang of 6.5 months of new homes, 9.2 months of existing homes and an estimated 3.87 million of homes as part of the so called “shadow inventory” tied to foreclosures, home prices have no catalyst to begin to improve. Look for the housing market to remain stuck in the mud for the foreseeable future, which could mean another two years.”

Michael Gapen, economist, Barclays Capital: “The decline was much worse than our forecast (+1.0%) and consensus expectations (-1.0%). … The much weaker-than-expected reading likely reflects the effects of adverse weather in many parts of the country. The large declines in the Midwest and South are consistent with the severe weather that hit that region of the country, producing record numbers of tornadoes and significant wind and flood damage. This report foreshadows weakness in upcoming existing home sales, as pending home sales normally transition into sales with a lag of one to two months.”

Daniel Oppenheim, analyst, Credit Suisse: “They key is that weak sales at the end of the spring selling season will likely lead to even further pricing pressure in the coming months, which in turn will pressure homebuilders to cut prices, or lose more sales.”

Adam Rudiger, analyst, Wells Fargo: “Overall, we believe this is just one more data point, on top of a multitude of others, that the housing market remains weak (both in the existing and new market) and that 2011 has not yet been the turning point for which some might have hoped.”

National Association of Realtors

 

[koalabear]

WSJ May 27th

That was fast.

On Thursday, we wrote about Toll Brothers’ solid quarterly results and April’s strong new-home sales. It seemed that maybe, just maybe, recovery was inching closer.

Well, Friday brought a disappointing statistic: The National Association of Realtors’ seasonally adjusted index for pending sales of existing homes plunged 11.6% on a monthly basis to 81.9, the industry group said Friday. As we report, the index, which tracks agreements to purchase homes, had increased the two previous months. A reading of 100 refers to the level of sales in 2001. The reading indicates more pain lies ahead.

Good numbers. Bad numbers. It’s hard to make sense of all these data points. Here’s how industry watchers viewed today’s report: (Hint: They’re not optimistic.)

Adrian Miller, senior vice president, Miller Tabak: “What can you say about the housing market that hasn’t already been said? Sales will continue to underwhelm at best and be outright horrible at worst as the decline in prices remains unabated. As long as we have a supply overhang of 6.5 months of new homes, 9.2 months of existing homes and an estimated 3.87 million of homes as part of the so called “shadow inventory” tied to foreclosures, home prices have no catalyst to begin to improve. Look for the housing market to remain stuck in the mud for the foreseeable future, which could mean another two years.”

Michael Gapen, economist, Barclays Capital: “The decline was much worse than our forecast (+1.0%) and consensus expectations (-1.0%). … The much weaker-than-expected reading likely reflects the effects of adverse weather in many parts of the country. The large declines in the Midwest and South are consistent with the severe weather that hit that region of the country, producing record numbers of tornadoes and significant wind and flood damage. This report foreshadows weakness in upcoming existing home sales, as pending home sales normally transition into sales with a lag of one to two months.”

Daniel Oppenheim, analyst, Credit Suisse: “They key is that weak sales at the end of the spring selling season will likely lead to even further pricing pressure in the coming months, which in turn will pressure homebuilders to cut prices, or lose more sales.”

Adam Rudiger, analyst, Wells Fargo: “Overall, we believe this is just one more data point, on top of a multitude of others, that the housing market remains weak (both in the existing and new market) and that 2011 has not yet been the turning point for which some might have hoped.”

National Association of Realtors

Losing money is a good thing. It shows they had money to lose.

 

[mercury14]

This is some weak shit. Righties scraping and scavenging for little scraps of mixed economic news amid a recovery that's gaining steam....

MUST.... NOT.... LET... AMERICA.... FEEL.... A RECOVERY IS HAPPENING...

 

[removed021712]

The OP is simply making things up. I have not read this entire thread but, I see he wrote that "existing home sales are up" they were down 13% in April. New home sales, which he also says were up, were, in fact, up from march (always are in April) but, down 23% from April of last year.

9% unemployment. Food prices up 15% year over year. Yea, sure signs of a great economy!

 

[koalabear]

This is some weak shit. Righties scraping and scavenging for little scraps of mixed economic news amid a recovery that's gaining steam....

MUST.... NOT.... LET... AMERICA.... FEEL.... A RECOVERY IS HAPPENING...

Speaking of weak shit, how ya doing merc?

 

[unregistered]

 

[unregistered]