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More good news!


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2012 Oct 17, 2:24am   14,743 views  32 comments

by rooemoore   ➕follow (0)   💰tip   ignore  

http://www.businessweek.com/news/2012-10-17/housing-starts-in-u-dot-s-dot-surged-in-september-to-four-year-high

Housing starts in the U.S. surged 15 percent in September to the highest level in four years, adding to signs the industry at the heart of the financial crisis is on the road to recovery. Starts jumped to a 872,000 annual rate last month, the most since July 2008 and exceeding all forecasts in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. The median estimate of 81 economists surveyed by Bloomberg called for 770,000. An increase in building permits may mean the gains will be sustained. A pickup in sales stoked by record-low mortgage rates and...

#housing

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7   CashWillCrash   2012 Oct 17, 8:58am  

Your graph has written on top "$583,500 Median sale price ($)", how comes you new line ends at $440,000? The new median according to your own posting is $583,500! $440k low 6 month ago to $583k now? WOW, prices are going up like CRAZY!

13   thomaswong.1986   2012 Oct 17, 3:27pm  

rooemoore says

Wow, look - Home prices are going up!

if your from Ross, CA marin county.. prices fell 33% near by Sausalito down 26%

my town.. Los Gatos.. down 28% and the Fortress Palo Alto down 19% Woodside down 21%

http://www.dqnews.com/Charts/Monthly-Charts/SF-Chronicle-Charts/ZIPSFC.aspx

14   thomaswong.1986   2012 Oct 17, 3:49pm  

rooemoore says

and in Oregon too!

How much does it to cost to build a new home in oregon vs california ?
is it the same lumber form the NorthWest ? or some special
lumber sent to California. Makes you wonder....

Of course Oregon is attracting jobs from California.. especially R&D Engineering.
sure helps when home prices are far less vs CA.

Median sale price Jun-11 May-12 Jun-12 YOY % chng
Resale houses $245,000 $250,000 $249,970 2.00%
Resale condos $121,500 $134,492 $130,000 7.00%
New homes $216,500 $227,900 $233,875 8.00%
All homes $215,000 $223,622 $230,000 7.00%

15   HEY YOU   2012 Oct 17, 4:59pm  

As new construction increases, I wonder if the banks are thinking they need to unload foreclosures before they lose possible buyers to new home purchases.

17   rooemoore   2012 Oct 18, 2:54am  

War says

Like Warren Barnes stated so eloquently, a "housing recovery" is dramatically lower prices by definition.

Let the recovery rage!

Ah yes, the famous Warren Barnes. Some would call him an elitist and a socialist. And perhaps worst of all -- he teaches at USC, aka The University of Social Climbers, aka The University of Spoiled Children, aka U$¢.

What a hypocrite!

18   rooemoore   2012 Oct 18, 2:57am  

Every day, another sign that the recovery has finally begun! What great news!

http://www.bloomberg.com/news/2012-10-18/consumer-comfort-in-u-s-climbs-to-highest-level-in-six-months.html

21   David9   2012 Oct 18, 3:25am  

Yeah Right. Just the numbers being manipulated again and not disclosing what is actually being reported on:

" What they don’t talk about is that housing starts are being driven by multi-family starts. It seems rental units are being built because there are few people left in the country that can afford a single family house."

"Single family housing starts are below early 2010 levels. They are 70% below 2006 levels. And this is with the lowest mortgage rates in the history of the country. Recovery??? Really???"

"So we’ve got a 50% increase in population and a 70% decline in housing starts. Does that sound like a housing recovery?"

"Housing starts today are 10% to 30% below the lowest levels of the last 6 recessions in the U.S. Does that sound like a housing recovery?"

"And of course we have the old shadow inventory. The National Association of Realtors and the National Association of Homebuilders are riddled with liars, knaves and fools. They pump out misleading and false data on a daily basis."

"The truth is that the Wall Street banks are purposely dribbling foreclosure properties into the market to avoid the price drops required to clear the inventory."

"It’s the extend and pretend game that is being utilized by those in control."

"There are roughly 4.16 million homes that could begin to flow to market."

"there is a strong possibility more than 6.5 million additional foreclosures will enter the pipeline. The addition of homes that banks may be holding back suggests a much larger number. Laurie Goodman of Amherst Securities Group has testified before Congress that it could be as high as between 8 and 10 million."

http://www.theburningplatform.com/?p=37490

22   37108605   2012 Oct 18, 3:32am  

Title of the link I posted above IS

"US economic recovery is a dangerous mirage | Nouriel Roubini ..."

23   37108605   2012 Oct 18, 3:35am  

This illusion! This is sheer LUNACY in my book total fucking LOONS! This is basis of what simpleminded call a BIG recovery?

Fed announces new mortgage bond-buying plan, keeps interest ...

http://www.washingtonpost.com/business/economy/fed-expected-to-announce-stimulus-thursday/2012/09/13/38a31be2-fda4-11e1-8adc-499661afe377_story.html

24   rooemoore   2012 Oct 18, 3:49am  

Except for a few fringe, tin foil wackos, everyone knows the recovery has begun:

http://money.cnn.com/2012/10/02/news/economy/housing-recovery-economists/index.html

25   rooemoore   2012 Oct 18, 4:18am  

War says

A "housing recovery" is dramatically lower prices by definition.

So you are correct! Let the housing recovery begin!

You've got so little material to back up your position that you have to reuse misleading and cherry picked data in the same thread.

Me - I got new material in every post.

http://finance.fortune.cnn.com/2012/10/18/housing-recovery-2/

This is from Fortune magazine. I guess you would call them "simpleminded" and refute them with a post from a blogger living in his parents basement.

26   David9   2012 Oct 18, 4:23am  

Gosh, I cling to every word Time Warner writes. (the owner of Fortune magazine)

27   rooemoore   2012 Oct 18, 4:55am  

David9 says

Gosh, I cling to every word Time Warner writes. (the owner of Fortune magazine)

I get it. You're a cynic, which is a good and smart thing to be.

Of course, the vast majority of those who get paid to evaluate the economy say the recovery has finally begun. That doesn't mean prices will soar and it doesn't mean that the recovery has begun everywhere. I expect prices to go up very slowly for the foreseeable future (read decades). So as a pure investment, one needs to be careful.

I believe that there are still many places where renting is still the smart thing to do. But that list is shrinking everyday.

28   David9   2012 Oct 18, 5:38am  

rooemoore says

(read decades).

No worries Dude. Correct, I am paranoid and I have been upside down in a property before, which is life inhibiting.
It's all in good debate. I do enjoy blogging.

29   thomaswong.1986   2012 Oct 19, 4:01pm  

rooemoore says

The Housing Recovery Is Officially Here!
http://www.theatlantic.com/business/archive/2012/10/the-housing-recovery-is-officially-here-what-happens-next/263754/

Atlantic ... or the East coast mentality.. sorry doesnt work well in Tech Hub of California. Its a sure fire way to ultimate doom and failure.

as todays article points out... WE really do need to continue to see lower housing prices to increase California productivity and allow innovation to flourish...

Bay Area's business climate is less friendly to startups than other parts of California, says study

By George Avalos
Contra Costa Times
Posted: 10/18/2012 10:43:17 AM PDT
Updated: 10/19/2012 08:10:22 AM PDT

http://www.mercurynews.com/business/ci_21801865/bay-areas-tough-business-climate-poses-challenges-startups

Relatively expensive housing, coupled with the high cost of living and doing business in the Bay Area, has made the nine-county region less hospitable to new companies than other big urban centers in California, according to a study released Thursday that urges improvements in what it describes as this area's burdensome regulatory climate.

"You have to ease the regulations that people face when they want to launch a new venture," said Jon Haveman, chief economist with the Bay Area Council's Economic Institute, which produced the report. "If somebody is trying to start a small business and spend a small fortune on a new home, they will probably start that business elsewhere."

30   bubblesitter   2012 Oct 20, 5:45am  

rooemoore says

More good news!

Isn't that relative? Good for one is bad for another. There is no such thing as good or bad.

31   rooemoore   2012 Oct 20, 10:03am  

bubblesitter says

rooemoore says

More good news!

Isn't that relative? Good for one is bad for another. There is no such thing as good or bad.

A stronger economy with more jobs and higher pay is good for everyone but the misanthropes. Not saying we have that yet, but signs are finally pointing in the right direction.

Remember, there will not be another bubble and prices will rise very slowly, so no one will be priced out. Personally, I am not selling or buying a home in the next 10+ years. I am happy about housing turning around because it is a good sign for the overall economy. As a small business owner, this in very important to me.

The doom and gloomers on this site who seem to be hoping for a housing crash might as well be cheering for more homeless families and higher crime rates, because if housing tanked like they wish it would, that is what would happen.

32   JodyChunder   2012 Oct 20, 12:15pm  

thomaswong.1986 says

Wow, look - Home prices are going up!

It's called a rally. Happens all the time, folks. This one is driven by investors REITs.

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