Yesterday's 16% increase in home sales was also a 19% decline from last year

Discussion in 'Trading' started by thriftybob, May 25, 2007.

  1. I wonder how many people knew that?

    Apr 07 981,000
    Apr 06 1,198,000

    Maybe that's why the builder see things as still gloomy while the bubble heads on TV pump away
  2. The spin is just amazing. There is no sign of a bottom yet.
    Their trying to chearlead us out of going into a recession.
  3. S2007S


    like I just posted on the other forum, there is no bottom yet.

    $1.5-$2 trillion worth of ARMS are going to reset over the next 12 months, should put another 500,000-1,000,000 houses into foreclosure.
  4. What bothers me is that they seem to be trying to manipulate the market, for example homebuilder stocks, and mislead the retail investors that are not sharp enough to look into the details of what was reported.

    A 19% decline year on year in combination with 15% freebies added to cost, but not included in price, at the same time as an 11% decline in price is REALLY UGLY for profits.
  5. Thrifty Bob,

    Are you part of the Thrifty Car Rental Company like Paris Hilton is part of the Hilton Empire?

    If you are, I like you rental cars better than HURTZ. Even my chauffeur say you rental cars are the best!

    You must be millionaire like me...:D

  6. ===================
    T Bob;
    Perhaps more telling, prices were bearish, so a higher or lower figure in vol is still bearish, national average

  7. But these guys are already trading at 1.2-1.3x book...its already build in.
  8. There are plenty of off balance sheet transactions in land that is falling in value. Believe me, it will get UGLY before it is over. May take another 2 years to play out.
  9. The book on these companies doesn't really count in a falling/shrinking market does it? Who knows what the fuck they're reporting...I'd say there is a lot of trouble being carried on the books that has yet to be written down or accounted for.
  10. This is bizzaro market - FA doesn't matter. According to some, a 'new economy'. What is AMZN's book value?
    #10     May 25, 2007