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| 4/28 |
| 2005/10/28-31 [Reference/RealEstate] UID:40302 Activity:nil |
10/29 http://biz.yahoo.com/rb/051027/economy_housing.html Sales tumbled 11.8 percent in the West. It's finally happening! \_ Hehe, way to misquote and take out of context! Go-Go Renter Troll! I'm going to desperately cling to my home and hope prices don't plunge 50% causing my profit to slim down to a mere $100k. Oh, wait. I live here. It doesn't matter what the on-paper value is. And hmm, the article only talks about new homes. OTOH, good news for you is the "medium home sales price fell 5.7% to $215,700". I'm going to run out and buy a few of those... in Idaho. You would have scored 2 motd troll points, except you put the silly "sky is falling" editorial in there, but you'll get partial credit: .75 troll points in your column. How's the rent thing working out? \_ don't worry. jim cramer says fed is going to raise rates until housing bubble pops! 3rd quarter economic growth is good. inflation is through the roof. this means fed can and will raise and raise and raise. jim cramer is always right! yippee! you will have negative equity soon! bwahahahaha! - disgruntled home owner \_ Hi renter troll. Inflation is hardly "through the roof". You'd have to go back to Jimmy Carter times to see that. Homeowners don't care what their on paper value is. Only speculators. I'm taking away .5 troll points for the inflation comment. You're down to .25 troll points. \_ For consumer products, no, but for assets, yes, they are very much through the roof! Even for consumer stuff, 5.7% ain't mellow. \_ If you don't plan on selling right away and you're a homeowner, inflation is a good thing. You get paid more, stuff costs more, so that's a no-op. But hey! Your property tax and mortgage don't rise to match. You win! \_ In fact, real estate prices tend to track inflation in the long run. \_ Supposedly. But I think the inflation for houses has already happened. The other things are only now slowly catching up. |
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| biz.yahoo.com/rb/051027/economy_housing.html Click Here Click Here Reuters Sept new home sales up Thursday October 27, 10:02 am ET WASHINGTON (Reuters) - Sales of new homes rose more slowly than expected in September, while the number of new houses on the market hit a record and median prices fell, according to a government report on Thursday tha t could signal cooling in the housing boom. The Commerce Department said new single-family home sales rose 21 percen t last month to a seasonally adjusted annual rate of 1222 million units from 1197 million unit pace in August -- a sharp downward revision. Ne w home sales were revised lower for June and July as well. The September sales pace was 01 percent slower than a year ago. Economists had expected new home sales to rise to a 1250 million unit pa ce from August's originally reported 1237 million unit pace. The Commerce Department said Hurricane Katrina had a minimal impact on ne w residential sales for September. While sales rose, the supply of homes available for sale shot up to a rec ord 493,000 at the end of September, surpassing August's high of 478,000 . At September's sales pace, that represented a 49 months' supply. The median home sales price fell 57 percent to $215,700. Low mortgage rates have sustained a years-long rally in the US housing sector, but recent data have begun to suggest some cooling in the market . Earlier this week, a trade group said home resales came in flat in Sep tember but would have been lower if not for aggressive buying around hur ricane-impacted areas. On Wednesday, the Mortgage Bankers Association said mortgage applications fell last week to a six-month low. Interest rates, too, have begun to climb after largely ignoring rising sh ort-term borrowing costs. The rate on the 30-year mortgage loan, conside red the industry benchmark, averaged 606 percent last week, up from a 2 005 low of 547 percent in June, according to the Mortgage Bankers Assoc iation. Retirement Calculator FinanCenter offers LeadFusion, an online marketing platform used to captu re and convert online leads for financial services. Our professional ser vices design and manage custom tools. Republication or r edistribution of Reuters content is expressly prohibited without the pri or written consent of Reuters. Reuters shall not be liable for any error s or delays in the content, or for any actions taken in reliance thereon . |