September New Home Sales Drop 3.6% From Up 1% Previously, Miss Rosy Expectations

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Wed, 10/28/2009 - 10:26 | 112865 Dixie Normous
Dixie Normous's picture

The asshat CNBS had on following this number said he expects it to be revised, UPWARD.

Funny you mention Kash for Kindles, I think buyers of AMZN believe it and start buying everytime the futures tick down.

Wed, 10/28/2009 - 10:29 | 112877 Anonymous
Anonymous's picture

I hope stupid f*cks continue to buy the market. Let it go up and up and up. That will make the comming disaster even more fun to watch and may finally reset this handout mentality we hv in this country.

Wed, 10/28/2009 - 10:31 | 112879 Rainman
Rainman's picture

Shiller says there are regional housing bubbles. Guess it's the Midwest and Northeast.

Wed, 10/28/2009 - 10:35 | 112889 Daedal
Daedal's picture

I'm beginning to get the notion that Tyler has a short position on AMZN.



Wed, 10/28/2009 - 10:43 | 112902 Dixie Normous
Dixie Normous's picture

I doubt it. One, because "Tyler" isn't just one person. Two, just because someone thinks the AMZN story is fucking hilarious doesn't mean you stand in front of the freight train.

Wed, 10/28/2009 - 10:38 | 112894 lizzy36
lizzy36's picture

pisani told me "not to worry" no correction since the rally has started has been greater than 4%.

finally figured out what is driving kindle sales.  the new model reads aloud to you.  the perfect american book. 

Wed, 10/28/2009 - 11:07 | 112931 Miles Kendig
Miles Kendig's picture

You know.. Lizzy, I.. you know.. tried to explain this you know.. deal a week or you know.. so  ago.. You know?

Wed, 10/28/2009 - 11:11 | 112937 lizzy36
lizzy36's picture

I know, but i am not that bright.

How u doing?

Wed, 10/28/2009 - 13:15 | 113078 Miles Kendig
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Had a momentary reprieve in the land of the legal plus I just love southern Oregon.  Best three days in the past three + years.  Thank you for being you Lizzy.

Wed, 10/28/2009 - 11:48 | 112977 deadhead
deadhead's picture

the perfect american book


i don't have a kindle but if people magazine, national enquirer, entertainment weekly, et al can be downloaded, it may be a game changer lol!


Wed, 10/28/2009 - 10:39 | 112895 Bearish Spirits
Bearish Spirits's picture

Interesting that August's number was also revised downward, by almost 3%.  I'm sure this 'will provide more proof that we need the housing credit extended.'

Wed, 10/28/2009 - 10:41 | 112898 Anonymous
Anonymous's picture

I think we need to invite Dennis Kneale to an interview here . Get the real deal from him :) lol.

Wed, 10/28/2009 - 10:45 | 112905 lsbumblebee
lsbumblebee's picture

These numbers are obviously incorrect. Cramer said that housing bottomed last June.

Wed, 10/28/2009 - 10:48 | 112907 Anonymous
Anonymous's picture

Sorry, off topic here...

Anyone with any idea WTF happened in the Nasdaq futures (NQ) between 9:08 and 9:09 EST in the pre-market today? In that minute, the price dropped 30 points high to low and volume spiked from 50 to 13,109. First I thought I caught a bad tick, but not with that kind of volume. Sum-tin smells fishy...

Wed, 10/28/2009 - 11:52 | 112981 Dixie Normous
Dixie Normous's picture

I don't know for sure because the 3 financial networks I immediately surfed didn't say anything, but I assume it was the GS lower GDP call.

Wed, 10/28/2009 - 11:00 | 112923 Gilgamesh
Gilgamesh's picture

SPX perfect bounce off the 50DMA (again), if not already noted elsewhere:

Wed, 10/28/2009 - 11:02 | 112925 Assetman
Assetman's picture

Hey, but housing prices increased sequentially.  Instead of seeing a -13.4% drop, we only saw a -12.8% year over year drop in prices this time around.

See?  Things are getting sarcastically better...

Wed, 10/28/2009 - 12:11 | 113000 TraderMark
TraderMark's picture

"getting less worse"

"still bad... but at a slower rate"


3 months ago, the market would be up 4% on these numbers.


Wed, 10/28/2009 - 11:10 | 112933 Miles Kendig
Miles Kendig's picture

Just think of all those empty sub divisions out there that are being held off the market... 7 1/2 months, heh.

Wed, 10/28/2009 - 11:42 | 112964 HEHEHE
HEHEHE's picture

The sad thing is that you know that the released number is going to be revised lower next month.  So much for pulling foward demand with that $8K tax credit.  Now in order to pull forward the demand you'll need to up it to $16K. 

Wed, 10/28/2009 - 13:59 | 113135 ElvisDog
ElvisDog's picture

Hah, this is too easy. The "green shoots" headline is "Midwest new home sales up 34% exceeding estimates"

Wed, 10/28/2009 - 14:00 | 113136 Mark Beck
Mark Beck's picture

I guess I am really not sure want aspect of cash for clunkers you are talking about. Yes, the first time home buyer credit + FHA certainly have pulled ahead sales to a point, but most would agree that the local housing bubbles are based more on speculation on distressed properties. Also, the timing of housing purchases is somewhat confused, due to the inability to accurately price real estate at this time. 

The housing bubble I estimate will correct down to CS SA-COMP10 = 140.

Trying to prop up a deleveraging asset class price correction must be seen for what it is: Supreme folly.

Wed, 10/28/2009 - 14:13 | 113149 CharlesBronson
Wed, 10/28/2009 - 17:03 | 113384 gookempucky
gookempucky's picture

Its raining house's---------

By the way-----being from KC -----there were no new homes sold-----havent seen a basement dug for last 15 months unless you count those 3 in Parkville -one sold-2 left--hey thats up 33%--I feel much better know.

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