Comments on: New Home Sales Plunged In November
9 Percent Drop Was Worst Showing Since April 1995, Commerce Department Reports
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- Congress was asleep at the wheel totally dropped the ball and let the banks run wild and crazy completely deregulated. It''s insane and we''re left to bail out he mess while those responsible made billions. Next they''ll decide the only way to pull us out of this recession is to open the flood gates and let another 30 million new people into the country to sustain "growth". This is crazy economics and will eventually lead us to entire financial meltdown.
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- Posted by jowand at 05:49 AM : Dec 29, 2007
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You brought up a segment of the housing crisis that many seem to forget... the builders.
The big national home builders, most with offices on the East Coast, over built in many areas, especially the West. The Las Vegas market began to fall prior to the bubble bursting, primarily due to a glut of housing inventory. And housing inventory, in the end, is what will keep the market down overall. That applies to the very basic concept of economics: "supply versus demand".
But there are so many entities who are responsible for the housing/mortgage crisis, and they are the following:
Unscrupulous and greedy...
- builders
- lenders/banks
- buyers
- investors
- Realtors
All of those groups have a hand in this housing/mortgage crisis, but it is the home owners/buyers and Realtors who will suffer the most during this crisis.
Sadly, all of America will suffer from this crisis as many economic experts predict that it will cause a recession for 2008 and possibly 2009. Even those who were responsible buyers/home owners will suffer in a recession! - Reply to this comment
- Existing home sales are of 5 percent and new home sales are off 20 percent, compared to a year ago. Too many, stupid builders and greedy banks, building on the come and not paying attention to the economic reports.
http://www.realtor.org/Research.nsf/files/EHSreport.pdf/$FILE/EHSreport.pdf - Reply to this comment
- "glaswolf" = "snidegrass" of the past?
Nearly the same, if not identical writing and thought pattern.
Hmmm.
Its that, or there are far more abstractionists on the CBSnews.com site than I thought. - Reply to this comment
- Trauma induced among the illegals due to antiIndians seeking what they thought were 10 million jobs and 1 million businesses owned by "illegal mexicans" forgot to factor in that 60% of the illegals were nonIndians, who are not so casual as Indians when reflecting on threats of deportation. Indians to TJ is not deportation to war ravaged nations where hundreds of thousands have been slaughtered and millions raped ... think about it, even if 60 years ago, as we are at war now. Basicly, greed among the antiIndians was like poking the goose that laid the golden egg in the eye. Judeo christian rightists caused the downslide avalanche... now they''re in a gravity fall with their supporters ... why should we, The Indians, help them again? Let them fall like their historical kind, into oblivion''s misery of self deception and intellectual disintegration. Have fun folks, as we are at war.
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- apologies for the double post....
WC - Reply to this comment
- I''m kinda glad this has happened.
The idiots who bought a $95,000 house for $175,000 and with a somewhat obscured (future) interest rate changes... and wonder why they can''t sell it for a half million today.
Then there are the other idiots who thought that the $250,000 house with two bedrooms and three baths was a bargain... even though they worked part time at Wendy''s.
And most of all the greedy sonzabitdges that sucker''d all these kind of folks into the deal...
Yeah.... this whole housing failure thing was expected, at least by yours truly.
Why is it that folks Do Not Pay Attention To The Details ?
Idiots.... all of ''em... they got what they deserve.
So mote it be.
WC - Reply to this comment
- I''m kinda glad this has happened.
The idiots who bought a $95,000 house for $175,000 and somewhat obscured (future) interest rate changes...
Then there are the other idiots who thought that the $250,000 house with two bedrooms and three baths was a bargain... even though they worked part time at Wendy''s...
And most of all the greedy sonzabitdges that sucker''d all these kind of folks into the deal...
Yeah.... this whole housing thing was expected.
Why is it that folks Do Not Pay Attention To The Details ?
Idiots.... all of ''em
WC - Reply to this comment
- All the former dot-com professionals who were thrown out on their A$$ back in 2000 and 2001... most decided to become real-estate agents or mortgage brokers.
Now those same folks are back out on their A$$ again!
Two big economic lessons in the past decade were given to the American people in a very harsh way... which was:
A huge economic boom can be considered as a "bubble" and with any bubble, it will eventually burst. So it is best NOT to over invest into that bubble! Always diversify your investments.
Now the question is... how many Americans (over the past 10 years) paid attention? - Reply to this comment
- Yes, *** that liberal media making me think I don''t have as much in my wallet. LOL. Media has nothing to do with how people feel today about the economy. We can still pay our bills and won''t go hungry but we don''t have the extra money we had in the 90s. And the raises we''ve gotten don''t mean as much when they don''t match the rising cost of living.
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