Sales of new U.S. homes tumble to record low

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  • scubadiver626
    Confirmed User
    • Oct 2006
    • 1034
    #1

    Sales of new U.S. homes tumble to record low

    Northeast, sales dropped by 50% compared to year-earlier levels.

    Yet the dow will probably end positive. Wall street is so disconnected from Mr. and Mrs. America. I have to wonder if any lessons were learned from the Great Recession of 2007.


    http://www.marketwatch.com/story/sal...low-2011-03-23
    AsiaMoviePass My Best Rebilling Site
    Tags: None
    • L-Pink
      working on my tan
      • Mar 2005
      • 39151
      #2
      Originally posted by scubadiver626
      Northeast, sales dropped by 50% compared to year-earlier levels.

      Yet the dow will probably end positive. Wall street is so disconnected from Mr. and Mrs. America. I have to wonder if any lessons were learned from the Great Recession of 2007.


      http://www.marketwatch.com/story/sal...low-2011-03-23
      They took the money and ran, again.

        Comment

        • HowlingWulf
          Confirmed User
          • Nov 2001
          • 1662
          #3
          Yeah it's interesting, but why post it on GFY?
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          webmaster AT howling-wulf.com

            Comment

            • Agent 488
              Registered User
              • Feb 2006
              • 22511
              #4
              the majority of trading now is done by computers doing micro trades. thinking the stock market has anything to do with the real economy is silly old school thinking.

                Comment

                • L-Pink
                  working on my tan
                  • Mar 2005
                  • 39151
                  #5
                  Originally posted by HowlingWulf
                  Yeah it's interesting, but why post it on GFY?
                  Many of the worlds top investors look for tips by gfy ballers. Warren Buffet has at least 2 nic's that I know of.

                    Comment

                    • kane
                      Too lazy to set a custom title
                      • Aug 2001
                      • 20684
                      #6
                      A big part of this is simply that there are so many existing houses on the market that can be had for cheap many people are buying them instead of building new.

                      Of course the shitting economy, high unemployment rate and that fact that many people who own their homes now and would like to sell it and move/buy or build a new place can't because they are upside down in the mortgage.

                      It is very much a buyer's market out there. A friend of mine just bought a house for $140K that four years ago sold to the previous owner for $250K.

                        Comment

                        • Barry-xlovecam
                          It's 42
                          • Jun 2010
                          • 18083
                          #7
                          ROI on long term RE investments suck. (That is putting it mildly.)
                          There will eventually be appreciation, eventually ...




                          .

                            Comment

                            • F-U-Jimmy
                              Confirmed User
                              • Apr 2006
                              • 6853
                              #8
                              Originally posted by L-Pink
                              Many of the worlds top investors look for tips by gfy ballers. Warren Buffet has at least 2 nic's that I know of.
                              Funny shit but so true
                              icq. 176240424 44.years as a pornographer !!!!!!!!!!!

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