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"Creamer", where art thou?
WTF? I could have sworn that CNBC just flashed that house prices were up nationally??
Did I miss something?
Note to all: CNBC is muted, it is only a ticker...
Ahh.. the spinmeisters (no relation!) are at it again... Thnx
It's "un"amazing that once a gain there is negative news and what is Blmbrg discussing immediately? Apple!
Talk about sucking the corporate dick!
If not for Apple the spinmeisters would need Santa to come down and hand people presents in summer.
[Something good] amid [something bad]. "Amid". I fucking hate this word. I think it's ugly and that it's used way too often in MSM.
Perhaps you prefer "amongst" :>D
I had the sound on. I swear they said up 3.5% in June nationwide, and up 3% or something in the 10-city. WTF?
They were probably discussing inflation.
Yes, I saw it on their site as 'breaking news'.
I think they've gone from spinning the facts to blatantly lying. Give the algos something to chew on for a minute then pull it and pretend it was a mistake.
Wait, the consensus was -4.6? Who has been saying home valuations would plummet? No one that I can recall, hasnt all the media central scrutinizers been yapping about how the bottom is in and the future is so bright they gotta wear shades?
Apparently, Ron Paul isn't the only "13th floor". Just another step towards complete tyranny. The MSM will simply be ordered to ignore or blatantly lie about bad facts. Wait, same as it ever was.
From a lecture in 1969. It's been in the works a loooooooong time.
"Privately owned housing would become a thing of the past. The cost of housing and financing housing would gradually be made so high that most people couldn't afford it. People who already owned their houses would be allowed to keep them but as years go by it would be more and more difficult for young people to buy a house. Young people would more and more become renters, particularly in apartments or condominiums. More and more unsold houses would stand vacant. People just couldn't buy them. But the cost of housing would not come down. You'd right away think, well the vacant house, the price would come down, the people would buy it. But there was some statement to the effect that the price would be held high even though there were many available so that free market places would not operate. People would not be able to buy these and gradually more and more of the population would be forced into small apartments. Small apartments which would not accommodate very many children. Then as the number of real home-owners diminished they would become a minority. There would be no sympathy for them from the majority who dwelled in the apartments and then these homes could be taken by increased taxes or other regulations that would be detrimental to home ownership and would be acceptable to the majority. Ultimately, people would be assigned where they would live and it would be common to have non-family members living with you. This by way of your not knowing just how far you could trust anybody. This would all be under the control of a central housing authority. Have this in mind in 1990 when they ask, "How many bedrooms in your house? How many bathrooms in your house? Do you have a finished game room? "This information is personal and is of no national interest to government under our existing Constitution. But you'll be asked those questions and decide how you want to respond to them."
You'd be forced to lived within X number of miles from your employment. The employer would find you housing, based on your value to them. The 'Emploryer' and your housing would be The State as would everything else. The State would control everything including prices, where you travel, banking, everything. Private trasactions without the State would be illegal. Communism anyone?
To maintain the high home pricing, at some point they will have to begin supply destruction.
Homes don't maintain themselves. Squatters and banks aren't gonna do it.
The bottom is in until it goes lower, that's about all. RE prices have been artificially levitated just as the equities markets have been. We can't even see the bottom from here. Take out the shenanigans by the banks, let the market clear, and then we'll see the bottom. Personally, I think 40-50% lower from where we are now and we can start talking about a bottom.
real estate bottoms when it's an all-cash market or someone will accept a few gold coins or one monster box of silver for a fabulously gorgeous home or upscale condo. the scramble to get out of real estate escalates as the boomers get older & realize that they've been had by both WALL ST. & the U.S. GOVERNMENT. & with the 3.8% tax on residential real estate sales that is due to start in 2013 (slipped into that OBAMACARE bill) , home owners will be getting even less than they were thinking. Biggest wealth transfer scheme created. We're being run by the MAFIA . (where i'm living now you can't even give real estate away ! )
How fat will Dominic "Dom" Chu get? wow he has packed on the lbs!!
You should see MarketWatch's bold top headline "Home prices tick up in June". I knew I needed to check ZH for reality.
Financial media now reduced to outright lying fraud water carriers. The end draws near.
I will tolerate no violance in my house
But Cramer said housing bottomed 2 years ago. Very well then, continue the implosion.
But the Clownhorn and Bloomturd are reporting prices UP!
No part of this can be shown to be a positive anywhere, financial media now reduced to outright whores.
Home prices were trending flat in June with Case-Shiller's adjusted composite 10 index, which is a three-month average, holding unchanged for a second straight month (prior month revised from plus 0.1 percent). The composite 20 index edged 0.1 percent lower for a second straight month with 11 of the 20 cities showing declines in June. Seasonality is at play during spring and summer which is a strong time for home sales and, in what is a mild positive, seasonality is also at play this year as well. Unadjusted data show 1.1 percent gains for both the composite 10 and composite 20 indexes during June following 1.0 percent gains for both in May.Watch for comments on housing in today's FOMC minutes followed by construction spending data on Thursday.
'Trending flat' my ass...Ive got a family full of real estate people and there are no sales anywhere, and no construction. All they have is a glut of unsold homes and even if they get a nibble, the closings fall apart due to the shit head banks ultra tight lending.
Yeah Sheep. Got a friend who was big into the game. After getting lucky unloading some properties by deed-in-lieu he now has properties that are in his words absolutely unsaleable. At ANY price. But taxes and maintenance are on his tab.
The US government is the biggest owner of residential properties...nearly a quarter million of them....or about 30% of foreclosed inventory. They can't figure out what to do with it all.
You mean they can't figure out what to do with the inventory.... other than sell it to cronies for pennies on the dollar?
You mean they can't figure out what to do with the inventory.... other than sell it to cronies for pennies on the dollar? good one, MachoMan ...... those foreclosed homes aren't available to the average person who could buy them low & live in them; those pennies-on-the-dollar are for the rich, well-connected. Remember who runs this country now, it's not the citizens, it's the criminals, Obama being bankster-in-chief. I try to tell my friends & family that the country is being run by mafioso-types & that OBAMA's boss is JAMIE DIMON & OBAMA is really a banker ............ they roll with laughter At ME !
If I didn't know better, I'd almost swear that the country was being taken down deliberately so that the monied interests could come in & buy everything for pennies on the dollar ; one would almost think this was a grand design, wouldn't one ?
There are crumbs that fall through the cracks... and for very, very affordable prices... but, this is the exception and not the rule... it's kind of like the grab for gold or silver... finding 100oz bars, etc., is incredibly difficult and/or impossible at times, whereas finding single ounces or fractions thereof is generally not incredibly difficult...
The diligent of the morts are out picking up crumbs with feverish pace... the game is already over for most... a few are able to use the last of their dry powder (that isn't getting replenished)... but the top of the ladder keeps getting new powder...
A deflationary collapse would act to combat the wealth gap to a certain degree... and would end a significant amount of the damage of cronyism... but that is presuming some semblance of law and order remains and not just a plantation... which is a fairly large presumption... and, inevitably, the smartest sharks will have already left for better hunting grounds... materially unaffected from the collapse or any efforts to subdue them, presuming they have done anything wrong.
The first order of business is to really, really implement justice as objectively reasonable and as diligently as possible... and, in general, this means a massive gutting of the financial sector... (not literally)... this will serve a few purposes including, but not limited to, destroying a few means of their control (including the PPT/FED/banking sector in general) and actually instilling some degree of trust into the system. This does not mean a redistribution of wealth and a witch hunt for all with any net worth... that's simply lazy, mob rule and has nothing to do with justice...
I think A LOT of matters would naturally fall into place after this first order...
In my area, houses are no longer For Sale. They are For Rent.
More news on the "rocovery"!! lol!!
Just look at the tail of the curve. It's starting to slop upwards! It's a recovery in the housing market!!! //sarcasm//
masturbation all the way. MW says the same mass media gum as well
Standby for implosion. Imploding housing prices are unavoidable. Prices will nosedive once the banks pull the cork on the bottle. There are thousands upon thousands of foreclosures sitting on the books because of all of the fraudulent paperwork that was used to write the mortgages in the first place. And once those foreclosures hit the books, look out below!! And if you think about it, a housing implosion is the only way to fix the mess that has been created. Inflated prices were the primary support for all of the exotic credit instruments that led to the 07/08/09 financial crisis. And the only way to ultimately fix the problem is to write down the value of the underlying properties. If left to gravitate on the open market, housing prices will plummet. It is inevitable.
Unfortunately, that is more class warfare. Stealing from the poor to give to the rich.
and BAC is down a mere 0.72%
most crowded short on wall street?
Yeah...and...what would happen IF the criminal banks put their HOARD of ROEs on the market?
Hey, Shiller, why don't you include all the ROEs which are OFF MARKET?
REO = Real estate owned.
Reich Eeediots Pwned
Driftin glower for 10 years imo. That's the normal RE cycle. Since greenspan held rates at near zero for so long creating an even bigger bubble, this down trend may last a generation of 30 years. And now The Bernank will not let it correct so we can move on and let house prices recover...added to the foreclosure freeze and prices will tumble for years to come.
I guess they think 20 years of zero returns with modest inflation is better than a system reset. Since the average person has no savings they are probably following Kant's imperative in a utilitarian sense, the greatest good for the greatest number.
I think a quick system reset and zeroing out all current stock and bondholders in insolvent banks is the greatest good for the greatest number, but what do I know. I am just another anonymous troll.
Pulte and Lennar taking off like scalded dogs.
Yep....fill your boots.... I'll take TNH which has already spun off ~$10 in dividends so far this year....
In at about ~98....
Man, I loved TNH. Untill I saw that LPs dividends were cut by 15% (or 30%, don't remember) at the source for canadian investors.
The converse applied for US investors in the CAN trusts that were in tax exempt accounts... Non-exempt at least you get a credit on your taxes paid....
Still, TNH is a solid long term play, volatile but a keeper.
Do not forget KBH as well.
Yeah, another correct call by that MathMan guy. He was the first one calling for a rally in homebuilders in 2H 2011.
Listening, watching and reading re Case Schiller it is a clusterfck
you can make that report say anything seasonal non seasonal monthly yearly quarterly quarterly annualized revised etc
Big Mac index is useful here.
Average selling price of usa home 174,100.
Big Mac 3.75.
House to Mac ratio above 40,000.
When it hits 20,000 houses will be a relative bargain.
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