U.S. existing-home sales rise 9.4% to briskest annual rate in more than two years

Discussion in 'Wall St. News' started by Topper, Oct 23, 2009.

  1. Topper


  2. S2007S


    Thank the $8,000 tax credit for that one, remember it ends November 30th, however they will likely increase it and extend it to keep sales climbing.
  3. Topper


    Without a doubt, but we have to clear out that surplus which is why the O blah blah admin is considering extending AND INCREASING the credit to now, not only 1st time buyers, but to existing owners as new housing starts (and sales)are key to new growth....

    It's all dominoes! lol And employment unfortunately is usually one of the last to fall.

    It's like hunting eh? Patience... patience...
  4. sosueme


    the credit system is a no brainer and can be funded from the penalties imposed on false claimers by IRS.

    These penalties go on the right side of the balance sheet and are carried through as a collectible even when the tax payer is in arrears, at which stage late penalties are added.
    japs (just another ponzi scheme)

  5. S2007S


    key to new growth? I highly doubt this time around will create the expansion the economy has endured for the last 20 years due to housing. I believe housing sales will pick up over the next few years but it will not look like 2001-2007 for at least another 20-30 years. I would not expect to see prices of houses jumping 100% in only a few years like we had just a few short years ago. The times of using housing as piggy banks are over, it seems like the only way this economy grows is on creating massive debt and that needs to be put to an end. Creating another cycle of expansion based on housing alone will just push this economy down further when it collapses again. The only way the economy expands now a days is through the creation of asset bubbles.
  6. Arnie


  7. Topper


    As a trader, I want to know why you're able to project without error the timeframe of 20-30 years out. Is this a fundamental analysis, or maybe technical based on a cycle?

    Again as a trader, I see the situation as if there is an acceptable fair value that real estate is below and, the rubber band is getting pulled tighter. When people go back to work, they're gonna start living the dream again which includes ownership. The increased demand I believe will cause a reverse in trend, and seeing that the band is pulled tight to the downside, investors will contribute to the trend.

    2 quarters out, and re-evaluate... And don't forget your stop!

  8. Gotta re-inflate the bubble. That's usually sound economic policy.

    /end sarcasm.
  9. You assume that every home buyer of an "existing home," in that statistic is a first time buyer in need of the some measly $8000 tax credit.

    Of course of you have absolutely NO DATA to support that. And you know it.

  10. S2007S


    From the articles I have read and probably posted here there are an estimated 350,000-400,000 houses sold with this tax credit that would have not been sold without it.

    This is from a few weeks ago, im sure that number is closing in on 425,000-450,000 houses and by the time done and said by end of november nearly 500,000 houses will have been sold due to this $8000 tax credit.
    #10     Oct 23, 2009