housing in recovery mode

http://www.nytimes.com/2012/09/20/bu...gust.html?_r=0

Have you heard of the Administration's freeze on foreclosures?*

It lasted through 2011 and into 2012, because documents had to be resigned and reissued, then new defaults had to be renotified with new paper in place.

The lack of foreclosures drives up the market for existing homes.

But, hey, any straw floating by will do these days. The anemic jobs report came out and the manufacturing report right along with it .... manufacturing does not agree with your Man's convention bragging ...

*Reminds me of the Clinton administration cooking the books on the jobs reports in October 2000 ... the unions complained all the way into December.

What's your man gonna do about the upcoming inflation? Blame it on Bush?

His only answer to be consistent with his philosphy is issue orders that wholesalers and retailers cannot raise prices.

Have you heard of the Administration's freeze on foreclosures? Originally Posted by LexusLover

yeah ... in 2010

yeah ... in 2010 Originally Posted by CJ7

They "froze" in late 2010 and it continued through 2011 into the first part of 2012 and it takes almost a year to crank up foreclosures for actual sales due to the stringent fed requlation hoops the lenders have to jump through. So in the meantime there or less of them and more regular sales. Just in time for elections ... more book cooking.

Additionally, one has to look at the source of the data .. if the "refi's" are being counted by realtors as sales then is skewers the numbers .. just like for awhile realtors were included the closing costs in sales reports, which boosted the average prices of sales .. when in reality the closing costs had nothting to do with the value of the house as for as sales price is concerned.

Asking a realtor about housing markets is like asking the Galveston Chamber of Commerce about shark sightings along the beach. Biased? You think?

That's one reason they have to keep adjusting the jobs numbers ... they get the headlines (current administration) and the downward adjustment of jobs created never makes the front pages ... the glowing erroneous numbers do.

But keep buying the snake oil.

http://www.thestreet.com/story/11375...n-4-years.html

"NEW YORK (MainStreet) -- Foreclosure filings decreased by 34% in 2011, according to a year-end report from RealtyTrac, a firm that monitors the foreclosure market."

That's .... "DECREASED" .... 34% IN 2011.

yup, thats gotta be it



I bet Obie knew damn well if he froze the home repo market in 2010, it would kill Romneys "are you better off now" platform and work out perfect for him in 2012 ...

The Federal Reserve is buying Mortgage Backed Securities,
a Derivative.
The FED will blow up another housing bubble.
Worse than 2008.
I will be on the short side... again.
Don't you see the same scam that's going to take place again?

S&P/Case-Shiller Home Price Indices

This movement is less than 1% or about the number of college people moving back home or moving to college. Some recovery. Drink up

Make sure you live in a big house in a cheaper part of town with lots of bedrooms, so all the kids, grandkids, sugarbabes, sugarbabe kids, aunts, uncles, etc etc can all move in for free.

At least you won't be lonely.

Just bought a HUD repo, myself. You'd be surprised where you can find them. Must have been one of those straws floating by.....

Man this Fing housing market. I've got 2 I can't sell. No way I'm locking in a loss. Fortunately they are both in rental to good folks.