Housing emerges as economic bright spot after years in the dark | TigerDroppings.com
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a want
LSU Fan
North America
Member since Oct 2010
11453 posts

Housing emerges as economic bright spot after years in the dark

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quote:

The number of homes for sale is at its lowest level since before the recession, sparking competition among buyers that has led to 10 straight months of price increases. The volume of activity is the highest since 2007.


quote:

But there is growing consensus not only that the bottom has been reached, but that the housing recovery is real. In the Washington area, that translates into construction crews again mobilizing in some of the region’s hardest-hit counties. In Lamb’s burgeoning community of Madison Crescent, workers shrugged off the snow last week to install wiring and plumbing in a row of new townhouses. The single-family homes across the street sold out this month


quote:

The return of real estate marks a key milestone in the country’s economic recovery — and not only because it was at the root of the collapse. A healthy housing sector could boost gross domestic product by more than $400 billion, based on housing’s historical portion of the overall economy. It is also a major source of new jobs in construction and indirectly supports industries as varied as retail and local government.


More good news


Radiojones
USA Fan
The Twilight Zone
Member since Feb 2007
7880 posts

re: Housing emerges as economic bright spot after years in the dark
It would be great if we started to come out of this economic malaise. I know that my business should could use it!


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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
14782 posts

re: Housing emerges as economic bright spot after years in the dark
Not so fast.

A New Housing Boom? Don't Count on It

quote:

WE’RE beginning to hear noises that we’ve reached a major turning point in the housing market — and that, with interest rates so low, this is a rare opportunity to buy. But are such observations on target?


It would be comforting if they were. Yet the unfortunate truth is that the tea leaves don’t clearly suggest any particular path for prices, either up or down.


a want
LSU Fan
North America
Member since Oct 2010
11453 posts

re: Housing emerges as economic bright spot after years in the dark
Who said anything about a housing boom? Hell, that's what got us into the mess in the first place.


TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
14782 posts

re: Housing emerges as economic bright spot after years in the dark
Well I'm hoping there is a real upturn going on. I'm just saying that it's not really clear at the moment.

I'm crossing my fingers.


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tigeraddict
LSU Fan
Baton Rouge
Member since Mar 2007
5018 posts

re: Housing emerges as economic bright spot after years in the dark
IF government (both sides) will stop manipulating the market we will be OK.



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lsu_tiger_az
LSU Fan
AZ/LA
Member since Mar 2004
30404 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

More good news


Yes it is, IF you are the DC corridor (which is where the data in the article is focused)....

Any data available on the rest of the nation



Zahrim
Colorado Fan
McCamey Texas
Member since Mar 2009
4671 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Who said anything about a housing boom? Hell, that's what got us into the mess in the first place.


more like barney frank and crew forcing banks to make bad loans to people who could not afford them or ever hope to pay them off.


Mike da Tigah
St. Denham Rougeville
Member since Feb 2005
42164 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Who said anything about a housing boom? Hell, that's what got us into the mess in the first place.


I don't know about a boom in a general sense from a healthy economy, but the creative financing of people with no means or limited and the overly inflated market that came from it most certainly did. It wasn't real to begin with. I think its possible to have a booming housing market again, but as a result of a sound economy if and when that returns and people begin to have more faith in it.


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BugAC
LSU Fan
Baton Rouge
Member since Oct 2007
21597 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Housing emerges as economic bright spot after years in the dark


Well, it's kind of hard to go lower than rock bottom, even for this President.


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lsuroadie
LSU Fan
South LA
Member since Oct 2007
6511 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

More good news









Did I miss the rest of it?




ShoeBang
New Orleans Pelicans Fan
Member since May 2012
4966 posts

re: Housing emerges as economic bright spot after years in the dark
I just bought a house. 3.25% fixed. No baloon, no nothing.

Pretty happy


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BugAC
LSU Fan
Baton Rouge
Member since Oct 2007
21597 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Hell, that's what got us into the mess in the first place.


No it is not. A boom didn't get us into this mess. These are the reasons we are in this mess

1) Government forcing banks to give out risky loans to unqualified applicants. Frank/Dodd
2) Government falsifying economic indicators about the housing market. Barney Frank
3) Idiots thinking they "deserve" a house, therefore buying 300k houses making 40k/year.
4) Gov't loans being backed by toxic assets such as house loans, etc...

It was a ticking time bomb waiting to happen, and the blame lies between 3 entities. Government being #1, then idiot buyers, then banks.


TROLA
LSU Fan
BATON ROUGE
Member since Apr 2004
7153 posts

re: Housing emerges as economic bright spot after years in the dark
That's a pretty narrow scoop of data to be applying across the whole economy. The area referenced will continue to be solid with the constant state of government expansion.


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ironsides
LSU Fan
Nashville, TN
Member since May 2006
7356 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Any data available on the rest of the nation


Read an article on Bloomberg on this last month - a lot of the non big government (aka dc) growth is surprisingly in low tax states in the south (people from NY/NJ/CT moving to GA/NC/FL/TX)


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lsuroadie
LSU Fan
South LA
Member since Oct 2007
6511 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

No it is not. A boom didn't get us into this mess. These are the reasons we are in this mess 1) Government forcing banks to give out risky loans to unqualified applicants. Frank/Dodd 2) Government falsifying economic indicators about the housing market. Barney Frank 3) Idiots thinking they "deserve" a house, therefore buying 300k houses making 40k/year. 4) Gov't loans being backed by toxic assets such as house loans, etc... It was a ticking time bomb waiting to happen, and the blame lies between 3 entities. Government being #1, then idiot buyers, then banks







ding ding ding. we have a winner


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a want
LSU Fan
North America
Member since Oct 2010
11453 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

more like barney frank and crew forcing banks to make bad loans to people who could not afford them


Good Lord

Did Barney Frank force financial institution to ignore data showing that up to 60% of those mortgages could be fraudulent and repackage tme risky loans as AAA?


Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24878 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Any data available on the rest of the nation

Yes. Here. LINK /

To summarize the Case-Shiller index is slightly up. Good news for those 20 markets.

But the telling indicator is the difference between existing home sales vs. new home sales. There's still a huge gap there. It's new builds that generate the most GDP (for obvious reasons). We're seeing very little movement in new sales. Not good news.

Existing home inventory jumped in January, even with seasonal adjustments. Not good news.

The indicators are mixed. Nothing indicates a strong recovery. Unless you believe the propaganda or NAR.


lsu_tiger_az
LSU Fan
AZ/LA
Member since Mar 2004
30404 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

But the telling indicator is the difference between existing home sales vs. new home sales. There's still a huge gap there. It's new builds that generate the most GDP (for obvious reasons). We're seeing very little movement in new sales. Not good news.

Existing home inventory jumped in January, even with seasonal adjustments. Not good news.

The indicators are mixed. Nothing indicates a strong recovery. Unless you believe the propaganda or NAR.




That's what I suspected....

More propaganda


Joseph Goebbels would be proud


This post was edited on 1/29 at 8:42 am


a want
LSU Fan
North America
Member since Oct 2010
11453 posts

re: Housing emerges as economic bright spot after years in the dark
quote:

Government being #1, then idiot buyers, then banks


I'll ask you the question, too. Did government force financial institutions to repackage risky loans as AAA?

How can you say people are responsible when it was the banks who were approving them. The banks were taking the risks (and generally reaping the rewards) - so they take the responsibility.


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