Comments on: New Home Sales Plunged In November

9 Percent Drop Was Worst Showing Since April 1995, Commerce Department Reports

[blancadebree]

Once again we see how the liberal media uses liberal facts to show how "bad" the economy is. Anyone can twist the facts to make the economy look bad, just like anyone can twist the facts to make the economy look good.

http://blancadebree.blogspot.com

[aggiekat2004]

From someone in the construction business...the price of materials have also risen greatly. From the time you break ground on a house until the time it''s done, the cost of electrical wiring and copper tubing might triple.

But you know...didn''t our parents teach us that you "don''t get something for nothing?" How can someone expect to buy a $500,000 house with $1,500 payments...simple finance tells us that something''s just not right with this picture!

[feelfree1]

Re: "New Home Sales Plunged In November"

Let''s not get too worked up about this just yet. The housing market collapse will undoubtedly be far more severe by this time, next year.

[rohink-2009]

Some of you posters are truly pathetic. Absolutely out of touch with reality.

[gkc99]

The legacy of the Darth Bushit regime''s economic policies are coming home to roost. You can''t fund much of a housing market with purchases by billionaires, no matter how big a mansion they get. As Bushit, or rather Bushit''s puppet masters, have seized more and more of the nation''s wealth for a small minority, only smoke and mirror mortgages could keep the escalating housing prices within even the illusion of affordability. As usual when such tricks are played, the whole house of cards eventually collapses.

Thanks, Bushits!

[iphyt4u]

during the 50''s when it took only one bread winner to pay for the house, the car, the insurance, and all the utilities...what happened to that cycle. it''s not cyclical, the $800 billion stolen by your government to pay for an alleged war is not cyclical. energy costs taking %40 of ones pay check is not cyclical. when we''re standing in a soup line, i hope you cyclical types are behind me. i could use some sunshine up my colon.

[mcleanva07]

"It is the economy. It is cyclical. Housing prices are too high now, they will come down, people will start buying again. Up and down up and down, that is what the economy does."
"Obviously the market rebounded, as it will again."

Sure. The economy is cyclical and it will rebound again. It''s just that the middle class is getting a lot poorer. Recently, I%u2019ve heard on the radio that the national average income is around $29,000/year. Yet the average house price has been $250,000 to $300,000. And especially around the Washington, D.C. metro area, it has been around $400,000 - $500,000. What%u2019s wrong with the picture?

Look and see how many people having to keep overstretching to pay for their mortgages or lose their homes because they cannot afford to pay anymore.

[rohink-2009]

That was the worst showing since April 1995, when the pace of sales was 621,000.

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Obviously the market rebounded, as it will again.

[mcvet]

Not to worry folks, "Trickle Down" will reach you someday.... The fact that it never has doesn''t matter. Oh and that Tax Increase caused by the Debt, not to worry, we''ll take it our of some other program. Sieg Heil Bush!

[omega39-2009]

It is the economy. It is cyclical. Housing prices are too high now, they will come down, people will start buying again. Up and down up and down, that is what the economy does.

Posted by smiley676

I believe that used to hold true, the global economy and it''s ever increasing downward pressure on wages is the new uncertainty. The cyclical aspect may very well be that once housing prices reach parity and the public can afford them, the rich will again jump on the speculation bandwagon.