QUOTE(kingkong81 @ Mar 25 2009, 10:22 PM)
Recently the home sales data seems to b very positive...and oso some other reports oso give positive outlook
Are these signs of recovery on the way?? Wat do u all think? or is it still too early?
But i suppose the real challenge will b coming end of d week @ next week with company results coming out again.
Wat is ur view on it?
Thanks for sharing
QUOTE(dreamer101 @ Mar 25 2009, 10:59 PM)
All,
As per US Housing report.
http://www.chrismartenson.com/blog/fuzzy-r...sing-data/15540There’s another, even bigger, element to this story that’s just sitting there practically gnawing on the press’ lower legs, just 14 paragraphs down:
Home foreclosures were up 30 percent in February from a year earlier, according to RealtyTrac Inc., an Irvine, California-based seller of default data. A total of 290,631 properties got a default or auction notice or were seized by banks.
Lessee here...290k seized properties (many of which count as "sales" in the NAR methodology) times 12 months gives us 3.48 million homes in default, slated for auction, or seized.
When we divide these 3.48 million (annualized) defaulted or seized properties by the 4.72 million in total reported sales (also annualized), we immediately discover that a full 73% of recent housing activity was distressed.
By mixing foreclosure data with organic house sales, the NAR and the press have badly misrepresented the actual condition of the housing market.
Dreamer
QUOTE(cherroy @ Mar 26 2009, 12:28 AM)
No doubt, it is a good number, but need to look at overall perspective. A lot of people don't mention the second part of the report
qouted from CNBC news.
Number of house sales going up, but price going down. Just mean like supermarket putting mega sales, then people are flocking to buy, but actually people will continously to do so if price doesn't go down, still to early to tell. You surely will see lot of people when there is a mega sales going on in supermarket. But after the mega-sales, people still go shopping, nobody knows.
Without job creation or income increasing, people cannot afford to buy more houses.
Key situation is always job and income, which is the basic of any economy.
All,
http://www.chrismartenson.com/blog/fuzzy-r...sing-data/15540If you are referring to US housing market, the sales are actually down. The report lied. They are counting foreclosure as sales.
See above URL.
Dreamer
Mar 25 2009, 10:59 PM
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