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Homebuilder Sentiment Misses, Future Sales Expectations Hit 7-Month Lows
NAHB Sentiment in January printed 57 (missing expectations of 58) down 1 from last month's upwardly revised 58 print. This headline mediocrity, however, hides a relative plunge in future sales expectations which tumbled to their lowest since June. Only the Midwest region saw improvement with the West region plunging 9 points to 66.
Futures sales expectations tumble to 7-month lows...
With 3 of the 4 regions showing weakness...
Charts: Bloomberg
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Just adjust it dumbfucks
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BITCHEZ
LET'S GET THIS PARTY STARTED:
Wallstreet Hustle (10cc)
https://www.youtube.com/watch?v=8gZX3Qk9Zpk
Wolf of Wallstreet (Chest Thump Mix) feat. Eclectic Method
https://www.youtube.com/watch?v=tkBY3nvc2fY
Shit is crazy in Northern Virginia still. Very little inventory and what there is is still selling for peak. I have all but given up on ever being able to afford a home in this area in a non illegal alien/section 8 infested neighborhood with good schools. The minute a decent house pops up here it has a contract for asking price. It's infuriating that the RE market here has held up so well in the good areas. Too much money floating around the DC area for anyone outside the club to ever afford a decent life unless both spouses have high paying jobs.
What did you expect from NorVa?
You're living amongst some of the biggest crooks in the country--The Washington DC pols!!!
Yeah well that didn't stop my old house from plummeting 70% from peak. This area got whacked hard in 2007-2009 but it recovered and hasn't let up since. About the only areas that haven't recovered are the illegal alien/section8 infested areas of Manassas Park etc where my old townhouse got overrun with...Either way there is no way to comfortably afford a decent home in this area even in crappy locations unless you're making $150k or more in income. Want to live in Fairfax where the good schools are then be prepared to pay $550+K for a fixer upper SFH. Guy I work with is spending 75% of his and his wife's income on home expenses in a very nice neighborhood. Screw that.
It is fucking sicking actually. I moved to the same area after the 2008 crash. The fuckers in this little bubble have no idea how fucked up the rest of the country is fiancially.
These graphs are based on liars' statistics, the actual numbers are even worse. Of course, the One57 condominium high rise in Manhattan just sold its penthouse for $100 million (with a ten year tax abatement courtesy of Governor Andy "I Like Fidel" Cuomo). So everything is good, according to the lapdog press.
So when are the banks going to move those 14 million empty houses just waiting to be foreclosed?
banks will not get bailed out when this real estate bubble pops this year
Then the State will have to attack.
I wish you were correct (about banks and no bailout), and you should be correct, which is exactly why in this upside down economy, the banks will get bailed out for every penny and a little extra for their troubles.
Just as the states will be bailed out one by one as they go broke.
Those who can afford to pay, don't risk a thing. Those of us who have everything to lose will lose everything.
Ho hum. Opening dip once again being bought. I'd be shocked if we aren't green by lunch today.
RYL is down 5% today. I own puts on that bitch. I want to see new lows on that mother fucker!!
Can't believe the 50 year mortgage has yet to arrive. Extend terms like the car bizness and it will all be ... fixed.
More than one in four new-car loans in October and November were 73 to 84 months long, according to Experian Plc. The share of new-car loans at those term lengths was less then 10 percent in 2009 and 2010.
http://www.bloomberg.com/news/2014-08-20/eight-year-car-loans-fuel-canada-sales-over-debt-warnings.html
You sparked my ingenuity, at 18 each indentured serf gets one loan to cover college, car, home, and iProducts. Repayable over the lifespan of servitude.
How about we just change the law so that if you accept any gov't assistance, you can't vote.
Soc Sec
Welfare
Unemployment
Public Disabaility (not pri-insurance)
We'll see who the politicians pander to then.
Or, allow individuals to sell (pledge) their votes on an exchange. Corporations and activists could buy up blocks of votes like proxies. The only problem I can foresee is that so many people would sell and that the price of a vote would dive into the penny stock range.
All the same, it would be an interesting test of how much our socialist democracy is really worth in actual dollars.
What we really need is for private lenders to offer multi-generational loans. You buy it, your kids and grandkids pay it off. Sort of like how the government's borrowing works, but for everything.
They could bring back the 100 year land lease. Worked in England in the duration of its "empire."
Bring back titles of nobility. After all, Americans want a monarchy, along with the ability to vote and the illusion that each or any vote matters.
The crown retains its holding on its people and its land. The serfs are given the dispensation of limited freedoms, as long as it doesn't threaten the power of the status quo.
Just like the Consumer Confidence charts, what is the real value of opinions from people out of touch with reality?
Too easy...
That which you own will go down in price, that which you need will go up.
Real Estate (though I don't know what's Real about it) still needs that 90% peak to trough adjustment before there is any sanity in the market. Steady, steady...
What??! You mean my 9.00/hr job doesn't qualify me for that $300,000 piece of shit?
F U Mr . Yellin!
it would have back in the good ole days .....but that was like 6 yrs ago...now if you can get urself one of those 10.50 an hr jobs we can talk...
Hey, it has been above 50 for seven straight months, which is outstanding according to Diana Olick. Therefore, you should ignore the negative data.
I just had the first showing on my condo in over a month.....
The [very nice Lakeside] house down the block finally sold to some Chinese people who paid cash. Before then it had been languishing there for about 6 months with an open house every few days and zero lookers until they dropped the price 5 times ... finally well below what they paid so I am not sure how that will work out for the seller who is a friend of mine. I'll have to call him once he calms down and ask him how much he lost on that "house prices never go down" investment strategy.
I just popped in celebrate alexmark2013's departure.
... if homebuilders build them like politicians write laws, the first kenyan termite to come along would destroy civilization ...
Your racism is showing. Check your privilege if you want to have a legitimate discussion. Quality discussion has no room for racism.
... it's funny, even the anagram for "compassionate conservative" which is >>> "a snot's overcapacities' venom" <<< reflects your unqualified holier-than-thou stuck-up attitude ... :)
'Check your privilege'...? That's a good one...!!
Despite what you whackos on this site claim, President Obama has this under control. I might be a conservative, but I know that President Obama has got this. He's been great on the economy by putting us into a record breaking recovery. There are green shoots everywhere if you take off the blinders of hatred, racism, and anti-semitism and take a good look. The only negative thing I can say about the president is that he has not engaged us enough militarily in the middle east to defend Israel and certainly not enough against the insane and out of control Vladimir Putin who is a grave threat to all Americans.
You keep trying this but nobody is buying. You should try cloaking some of your BS instead of an open faucet spew.
With an infinite budget cant the government afford trolls with some DARPA training?
Sorry to break it to ya so late in the game there, Mr. Compassionate, but 'racism' and even your vaunted 'anti-semitism', just don't hold much water anymore - here, or anywhere for that matter... And one more thing, the 'president' has very little - if anything, to do with what is going on around you - economically or otherwise, save for putting a public-relations 'face' on what he is Directed to do.
... >>> "He's been great on the economy by putting us into a record breaking recovery."
... let me guess, your password is "ID10T" ...
... compassionate conservative ... you must be the guy who lights up the room with one flick of a switch ... :)
LOL - well played.
So....this probably WON'T be part of his bragathon later tonight?
“You’re ringing the bell on a new-car sale, but that customer is saddled -- they’re stretched so thin,” Mendel said at the North American International Auto Show last week. Extended-term loans are “stupid not just for us, but for the industry.”
http://www.bloomberg.com/news/2015-01-20/honda-warns-against-stupid-auto...
Nobody builds a house anymore?
http://finviz.com/futures_charts.ashx?t=LB&p=d1
Home builders. Keep your eye on personal incomes, and personal debt for the undre 30's. And then calculate how many can form a household and buy a starter home. The result should turn your hair white. The money they used to use to buy a small starter home is now eaten away by Student Debt. And their income potential in the service economy is what? 30K at tops? How does a deeply in debt couple, who combined at marriage might owe 60K in student debt, and combined can't even earn 40K a year, how they gonna buy your product?
When the race to the bottom in wages is finished, nobody is left who can afford a home. So keep using illegals immigrants and pay them mimum wage to build you homes, then see who can afford to buy your house? Nobody, that's who!