- advertisements -
Bouncing along the bottom. For now.
until we're dragged over the mariana trench!
33% increase in default letters last month, thousands of "undeclared" foreclosures because banks are still playing balance sheet skittle games, this is going to get a whole lot worse before it gets better!
Lennar is celebrating this news with a 5% gain in the first hour of trading.
HD and LOW also barely down for the day.
It's gettin old, Robo. Pull up the 5 year charts on any homebuilders and take a look at what grim death looks like
So, it seems that Robo gets a lot of flack whenever he posts. People get upset that he's cheerleading for some great bull market. Yet, most (if not every) post I've seen of his, he decries the fact that our markets are broken (stocks rallying on bad news, nonsensical data leading to impractical market swings). What gives?
Gosh Robo, thanks for the good news
I feel much better now
Ahhhh.....to be homeless with the hint of fall in the air.
20 minutes to show time boys and girls. Hurry up or you'll miss out on the great Obama speech.
Will there be punch?
There will be kool-aid for the truly stupid.
Punch and Judy. Oh what a glorious day boys and girls, what a glorious day.
Right in the gut.
Watching Obama speak is like a drinking game now, every time he says "pass this bill" and the dow drops 20pts, I'll drink a shot!
It's never too late to get drunk on Obama. :)
I've never watched an Obama speech since seeing one when O was on the campaign trail...
When I heard 'change you can believe in' with few details of what would change I knew we were in for more Jr Bush destruction of the Constitution...
So, to me whatever O says is coming from behind the scenes... O is a mouthpiece...
O can only redistribute taxes, go along with printing mountains of new debt and declare a few more conflicts in places that most Americans can't find on a globe.
Whats to watch? This is a rerun.
well, Gold fell off a fucking cliff and the FX crosses on AUD and BRL are batshit today.
Of course Bama's solution is more taxes. Lord knows we can't retreat to the dark ages of FY2000 spending when all the grammas were in the streets eating rats and the children were in the coal mines
Let's check in with someone with more gravitas
when do we start seeing the 0 down, 0% interest rates, no payments for 24 months on 60% off fanny/freddy properties? Someone wake me up when we get there.
I'll be buying some rentals when that happens!
And they'll still wind up delinquent as soon as we get the next leg down in employment and the economy! THen we'll get another wave of bailouts
When all those empty houses are empty long enough to be stripped of copper and sport the equivalent of "harvest" or "avacado" cabinets, then you will see some deals, on what nobody wants.
gold getting obliterated again. tyler, please stop headlining gold's rise!!!!!!!!!!!!!!!!!
$1785 is obliterated?
I think he meant to say "buying opportunity"
tyler just another zh asshole-long and longer gold down to 1500 & below
Kito and ww2vet... 2 trolls that appeared on an earlier thread calling attention to central banks/bullion banks renewed attacks on gold.
Funny, they didn't mention that the equities mkts fell off a cliff from the open...DJ down 231 now... and we know that the PPT is at work... How much would the DJ be off if the PPT were not on the job?
Benny...Oh Benny... Better clean up this mess before your 2 day meeting!
gold up in AUD, EUR, and especially BRL...FX moves are wtf today
snidley, the world issues, the same ones that have led to gold's rise, have only intensified. so maybe you can explain why gold has been held down? how do you equate my belief that central banks are pumping fiat and dumping gold to one of a troll???
to me it looks like people are getting out of paper gold and paper silver.
as they re-invest in physical, spot will rise again accordingly.
After gold dropped on the Swiss currency intervention, and they telegraphed how bad this week was going to be by ramping the markets on full retard last week, how can anyone be surprised they would go after gold? You knew it was coming people. Keep taking money off the table and stacking physical.
Man, the snap back in gold prices is going to be tremendous. Will it be Wed on Uncle Ben's dog and pony show? Maybe Friday?
Chairsatan Bearnaise will buy all the houses and O'bummer will tear them down and announce generational building project to "stimulate" the eCONomy. Timmah will issue trillions more uncle gorilla notes to finance O'bummers new pet project and Bearnaise will buy them all with freshly printed benjamins.
After 2 summers of recovery this is all we get?
Let me spin that 'properly' for you: those were 2 summers of "quality over quantity"! People focused on improvements, no on bigger McMansions! Soon enough, with all the cash on the sidelines and hungry investors snapping things up off the shelves, the next baba--boooom will be underway!
I don't think a drop of 24 dollars is or 1.5% is my definition of obliterated. Still well within the range of consolidation. But will admit this is one ugly market. Miners hanging tough....so far. Lets face it guys. The housing market is gone, kaput. Maybe a bottom in the next year or so, then it will languish for years while the excess supply gets worked out. Forget the housing market, you need a cave, period.
Ten thousand boomers retiring every day and no job, the housing market is dead for at least a decade.
I'm sure the squatters and copper thieves will take care of those empty homes.
The entire country is about to be Detroitified.
The boom is just around the corner! Step right up and give me your money in return for the investment of a lifetime.
And the sellers of paper gold/silver are out in force again today - $1,781/oz and $39.11/oz. This is getting so frigging old.
o nooo, too late i read it...hahahahahahahh
Poor Eric King will have to start his interviews this week..
"With gold crashing back below $1,800, get the latest King World News blogs featuring........"
He will almost be reduced to your sad state.
Perhaps King will discuss sell off of equities? DJ off 231...
"Builders continue to confront the same challenges in accessing construction credit, obtaining accurate appraisal values for new homes...
The appraisals are accurate, builders don't like the truth is the problem.
The problem now is that the appraisals are coming in at under the cost of materials and labor to build the house...impossible to get financing without giving away all of the profits and then some.
Who would build a new home with the market flooded with perfectly good (according to American standards) homes?
This is a perfect example why nobody should look at new home starts as a leading indicator of economic conditions. Builders build for the same reason golden labs dig, it is their nature. If you don't build you go bankrupt. If you build and the economy doesn't improve, you go bankrupt. Either way, they build.
So many McMansions, so few jobs. Perhaps we will see some new trend, in which 2 or 3 GenXer couples get together and buy a house, in what we might call "a hippie commune". And then, if the GenXers could convince the nice Central Banker Men to tear down the house next door, they could plant a nice healthy communal garden, and save the planet. And then, if they could convince the nice Congress Men to end the War on Drugs, they could add some nice medicinal cannabis to the garden. AND THEN we might see, from seemingly out of nowhere, the NEXT GREAT MIRACLE of technological, musical, and artistic revolution, as Earth is transformed from the wasteland the nice Alpha Dominant Men have made it, into a planet even the Creator would enjoy visiting frequently.
The owners of the R.V. park down the road installed a bus stop 2 years ago, for the many children who now reside there.
How long will it take for families now living in a 25 foot RV to go an purchase a new home?
My theory is most people who have drastically down sized their living space will not want or need the 2000 to 3000 sq foot home at any time in the future.
A drive around many American neighborhoods confirms it: Today’s homes are big. No, not big -- huge. The average American home swelled from 983 square feet in 1950 to 2,349 square feet in 2004 -- a 140% increase in size.
And no builder to my knowledge is building homes in the 1100 to 1700 sq foot range.
I see opportunity here.
Disclosure: Dappers home = 1250 SF + wife, 2 kids.
quality of life: preternatural
The preternatural or praeternatural is that which appears outside or beyond natural. In contrast to the supernatural, preternatural phenomena are presumed to have rational explanations that are, as of yet, unknown. @ WiKi
As of yet!!
Gold at 1,780 down less than 2% and you call that "crashing". I just cannot believe you. And this is the way gold, silver trade guys. Very frustrating at times and easy to give up and just keep confetti. But it has proven itself time and time again, to the upside. Considering the strong but soon to be worthless dollar, not too bad.
Or, do you want to follow Timmaayyys advice?
Creamers pick "yea yea I,I'd be a buyer of home builders right now.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.