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Housing starts plummet

By tovarichpeter follow tovarichpeter   2013 May 16, 1:38am 10,546 views   91 comments   watch   nsfw   quote   share    


http://finance.yahoo.com/news/april-housing-starts-plummet-almost-123735563.html

Reuters) - Ground-breaking for new U.S. homes plummeted more than expected in April from an almost five-year high, but applications to build new homes shows the housing sector could still contribute to the strengthening economic recovery. The Commerce Department said on Thursday that starts at building sites for homes fell 16.5 percent last month to a 853,000-unit annual rate. That was below analysts' expectations of a 945,000-unit rate. The housing recovery, driven by growing demand and record-low mortgage rates, has started to boost other sectors of the economy in the first part of the year.

#housing

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1   RentingForHalfTheCost   ignore (5)   2013 May 16, 2:58am     ↓ dislike (1)   quote   flag      

bgamall4 says

Where are the buyers suppose to come from?

In reality the fed is the only buyer in town. It is like the cook eating all the food and saying business is awesome. Can't last...

2   lostand confused   ignore (0)   2013 May 16, 4:10am     ↓ dislike (0)   quote   flag      

Well, houses are selling for 450k in Tracy and there seems to be panic among buyers. Lets see how this ends up. Judging by the stock market's continued run, this boom may go for another year or two-who knows.

3   RentingForHalfTheCost   ignore (5)   2013 May 16, 4:58am     ↓ dislike (1)   quote   flag      

bgamall4 says

RentingForHalfTheCost says

In reality the fed is the only buyer in town. It is like the cook eating all the food and saying business is awesome. Can't last...

That is the question, can it last? Is there so much money at the top that main street is no longer needed? That is the question. I think you are right, but the Fed can play this game longer than we can hold out.

I really don't believe it can. A trillion a year is unsustainable and the Fed knows it. Sure, all the real estate bull will say it can, or it doesn't matter. But in the end fundamentals matter. This country is not just broke, it is broke ten times over. The only thing that will get people's mind off of the problem is a full blown war. I predict that will happen in the next 2-3 years, just when the fiscal issue comes to roost. No coincidence. US will be broke for quite a long time. The last 40 years doesn't come for free.

4   FuckTheMainstreamMedia   ignore (7)   2013 May 16, 9:44am     ↓ dislike (0)   quote   flag      

If housing is poised for a continued upward climb, why are there so few housin starts? It can be construction costs...downtown LA has multiple loft buildings going up at the moment, but this is basically the only location in LA with current construction projects.

5   tatupu70   ignore (0)   2013 May 16, 11:09am     ↓ dislike (1)   quote   flag      

dodgerfanjohn says

If housing is poised for a continued upward climb, why are there so few housin starts?

I think you answered your own question. Housing prices are based on supply and demand. No starts = no new supply.

I wouldn't put too much stock in builders being able to predict the future demand--they failed miserably on the way up in 2006/7. Not sure why we'd think they are any better at realizing when the bottom is in....

6   APOCALYPSEFUCKisShostakovitch   ignore (56)   2013 May 16, 11:42am     ↓ dislike (0)   quote   flag      

What asshole would buy a house?

7   Goran_K   ignore (3)   2013 May 16, 11:48pm     ↓ dislike (1)   quote   flag      

donjumpsuit says

I heard that most of the 'housing starts' since Summer 2012 were actually just "completions" of projects designed or abandoned during the last bubble.

That's true for the Irvine Company down here in SoCal. They suspended at least 3 projects that I can think of (Orchard Hills, Laguna Altura, Great Park). These were all planned during the bubble. Laguna Altura is the only one that ever got started post-bubble.

8   tatupu70   ignore (0)   2013 May 17, 12:22am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

To me that is akin to playing the naked option market an risking too much

You're actually risking LESS. All you have to lose is your downpayment, right?

9   RentingForHalfTheCost   ignore (5)   2013 May 17, 12:32am     ↓ dislike (1)   quote   flag      

tatupu70 says

RentingForHalfTheCost says

To me that is akin to playing the naked option market an risking too much

You're actually risking LESS. All you have to lose is your downpayment, right?

Ask all the underwater people that are struggling. No one ever wants to leave a home they own. Even if legally they can, and it makes sense financially. I know many that have gone through the process and don't come out better for it. You are risking more than just money. Telling your family that you are losing your home is not without consequences. I just wouldn't do it without at least 20% down. Ever, so saying I would is not realistic.

10   tatupu70   ignore (0)   2013 May 17, 12:41am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

Ask all the underwater people that are struggling. No one ever wants to leave
a home they own. Even if legally they can, and it makes sense financially. I
know many that have gone through the process and don't come out better for it.
You are risking more than just money. Telling your family that you are losing
your home is not without consequences. I just wouldn't do it without at least
20% down. Ever, so saying I would is not realistic.

That's fine--it's your decision. But putting less down isn't really riskier. Nobody loses their home because they didn't put enough down...

11   APOCALYPSEFUCKisShostakovitch   ignore (56)   2013 May 17, 2:35am     ↓ dislike (0)   quote   flag      

You forget the part about steering the car with his penis so he can wave to his fans and trade stock tips with Warren Buffet on his cell at the same time.

12   tatupu70   ignore (0)   2013 May 17, 2:35am     ↓ dislike (1)   quote   flag      

Goran_K says

You know what the shows?

That you have a lot of alts and you waste your time liking your own comments because it makes you feel important.

Goran_K says

The majority of this forum believes you are a broken clock.

6 people is not a majority of the pat.net users. Sorry. Especially when most of them are just you voting under different alts.

13   Goran_K   ignore (3)   2013 May 17, 2:38am     ↓ dislike (2)   quote   flag      

APOCALYPSEFUCK is Shostakovich says

You forget the part about steering the car with his penis so he can wave to his fans and trade stock tips with Warren Buffet on his cell at the same time.

Is that before or after Mark Zuckerberg ask him for his opinion on the future of social media technology while on his 280 foot yacht going under the Golden Gate Bridge?

14   APOCALYPSEFUCKisShostakovitch   ignore (56)   2013 May 17, 2:40am     ↓ dislike (0)   quote   flag      

Goran_K says

APOCALYPSEFUCK is Shostakovich says

You forget the part about steering the car with his penis so he can wave to his fans and trade stock tips with Warren Buffet on his cell at the same time.

Is that before or after Mark Zuckerberg ask him for his opinion on the future of social media technology while on his 280 foot yacht going under the Golden Gate Bridge?

After. Around the same time that ZuckFuck gave him his wife for a weekend while he was attending a snuff movie festival in Angola.

15   Goran_K   ignore (3)   2013 May 17, 2:52am     ↓ dislike (3)   quote   flag      

tatupu70 says

But how will you know if I take the challenge?? You have me on ignore, right?

Did you not read the post? I said I would leave you off ignore until I got your response.

Let's do it tatupu. Let's see if I have alts or not, all it will cost you is $5,000. Shouldn't be too much for a wealthy home owning feudal lord like yourself.

16   tatupu70   ignore (0)   2013 May 17, 2:53am     ↓ dislike (0)   quote   flag      

Goran_K says

Did you not read the post? I said I would leave you off ignore until I got
your response.

Sorry--I read too fast. I missed that.

Goran_K says

Let's do it tatupu. Let's see if I have alts or not, all it will cost you is
$5,000. Shouldn't be too much for a wealthy home owning feudal lord like
yourself.

If there was a method to conclusively determine it, I would be in. I don't see how that's possible.

17   dublin hillz   ignore (0)   2013 May 17, 2:58am     ↓ dislike (0)   quote   flag      

I am all for people finding a way to beat the system - either by paying off mortgage and making HOA/property tax via passive investment income or by people paying rent via passive investment income (which will obviously require a much larger nest egg compared to option 1). What I will never understand is how some folks here are paying $36,000-$48,000 rent per year and are acting like they have great deals as if they are beating the system vs buying. That's just insane!

18   tatupu70   ignore (0)   2013 May 17, 3:05am     ↓ dislike (0)   quote   flag      

bgamall4 says

But I just talked to an RE agent in Las Vegas. They are just in the business
of renting houses now because the investors are buying up all the houses and the
people are not buying and cannot compete for the houses.

If the houses are getting rented then there's demand. If they're vacant, then you're right.

19   Goran_K   ignore (3)   2013 May 17, 3:10am     ↓ dislike (2)   quote   flag      

tatupu70 says

If there was a method to conclusively determine it, I would be in. I don't see how that's possible.

There are methods. I know all the accounts that liked the post. How about this? We could get their IPs, we could call the provider, make sure the IPs aren't tied to proxy services. If the IPs are tied to Time Warner, COX, AT&T, etc, then it makes it easier because then the service provider can correlate the IP address to an individuals account.

Of course since those individuals are taking time out of their schedule to prove you're wrong about me having alts, we would have to write into the contract that you would compensate them a marginal sum of say $1,000 each.

So 6x$1000 PLUS the $5,000 you would have to compensate me, that would put us at $11,000 if my arithmetic is correct. That seems fair to me.

You want to do it tatupu? I'd have to contact those members individually to see if they'd even participate and let their personal info be revealed in that way, but I think $1,000 should suffice for their troubles.

I can have my attorney write up the contract as soon as Monday.

20   tatupu70   ignore (0)   2013 May 17, 3:12am     ↓ dislike (0)   quote   flag      

Goran_K says

There are methods. I know all the accounts that liked the post. How about
this? We could get their IPs, we could call the provider, make sure the IPs
aren't tied to proxy services. If the IPs are tied to Time Warner, COX,
AT&T, etc, then it makes it easier because then the service provider can
correlate the IP address to an individuals account.

lol--I don't think that would work.

21   Goran_K   ignore (3)   2013 May 17, 3:26am     ↓ dislike (2)   quote   flag      

APOCALYPSEFUCK is Shostakovich says

After. Around the same time that ZuckFuck gave him his wife for a weekend while he was attending a snuff movie festival in Angola.

Can't top this.

22   RentingForHalfTheCost   ignore (5)   2013 May 17, 3:38am     ↓ dislike (1)   quote   flag      

tatupu70 says

RentingForHalfTheCost says

Ask all the underwater people that are struggling. No one ever wants to leave

a home they own. Even if legally they can, and it makes sense financially. I

know many that have gone through the process and don't come out better for it.

You are risking more than just money. Telling your family that you are losing

your home is not without consequences. I just wouldn't do it without at least

20% down. Ever, so saying I would is not realistic.

That's fine--it's your decision. But putting less down isn't really riskier. Nobody loses their home because they didn't put enough down...

That is one of the main reasons for many people who lost their homes? Underwater and out of work is not a good combination.

23   RentingForHalfTheCost   ignore (5)   2013 May 17, 4:21am     ↓ dislike (0)   quote   flag      

Goran_K says

You want to do it tatupu? I'd have to contact those members individually to see if they'd even participate and let their personal info be revealed in that way, but I think $1,000 should suffice for their troubles.

You know he won't do it. He would rather just accuse blindly like everyone does around here. Sad.

24   tatupu70   ignore (0)   2013 May 17, 4:33am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

You know he won't do it. He would rather just accuse blindly like everyone
does around here. Sad.

Actully, what's sad is someone lying about their investment gains on the interwebs. Then compounding it by making up fanciful tales about all the exotic places he is taveling to this year...

25   RentingForHalfTheCost   ignore (5)   2013 May 17, 4:59am     ↓ dislike (1)   quote   flag      

tatupu70 says

RentingForHalfTheCost says

You know he won't do it. He would rather just accuse blindly like everyone

does around here. Sad.

Actully, what's sad is someone lying about their investment gains on the interwebs. Then compounding it by making up fanciful tales about all the exotic places he is taveling to this year...

Again with insults. Not unexpected though. Keep them coming.

26   RentingForHalfTheCost   ignore (5)   2013 May 17, 5:01am     ↓ dislike (1)   quote   flag      

CDon says

Again, if your true intent was to "call him out" why delete all the remarks, including those where there were no insults at all?

Mostly everything was biased and insulting. Not on my thread. If it doesn't add anything to the topic, then boom! Deleted. Try me.

27   tatupu70   ignore (0)   2013 May 17, 5:10am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

That is one of the main reasons for many people who lost their homes?
Underwater and out of work is not a good combination.

No. Underwater has nothing to do with LOSING ones home. If you can make the payments, you won't lose your home. You might CHOOSE to walk away, but that's very different than having the house taken away.

28   tatupu70   ignore (0)   2013 May 17, 5:12am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

Again with insults. Not unexpected though. Keep them coming.

Do you know what an insult is? Please point out what you consider an insult from this post

tatupu70 says

Actully, what's sad is someone lying about their investment gains on the
interwebs. Then compounding it by making up fanciful tales about all the exotic
places he is taveling to this year

29   RentingForHalfTheCost   ignore (5)   2013 May 17, 5:39am     ↓ dislike (0)   quote   flag      

tatupu70 says

RentingForHalfTheCost says

Again with insults. Not unexpected though. Keep them coming.

Do you know what an insult is? Please point out what you consider an insult from this post

How about this as an example. Tatupu70, you are a liar!

30   tatupu70   ignore (0)   2013 May 17, 5:43am     ↓ dislike (0)   quote   flag      

RentingForHalfTheCost says

How about this as an example. Tatupu70, you are a liar!

I agree--you should delete your last post.

31   Goran_K   ignore (3)   2013 May 17, 6:20am     ↓ dislike (1)   quote   flag      

Roberto, what's fun about Thailand that you go so many times a year?

32   Goran_K   ignore (3)   2013 May 17, 7:45am     ↓ dislike (1)   quote   flag      

robertoaribas says

the beaches, the food, the weather, its cheap as hell to live, to eat out, to travel. The rock climbing in the south is out of this world, and then you come down and eat thai food and drink beer on a fantastic beach. What's not to like?

When you say cheap, how cheap are we talking? Travel+hotel+food, etc.

You stay in the cities, or in the country side?

33   RentingForHalfTheCost   ignore (5)   2013 May 17, 8:00am     ↓ dislike (1)   quote   flag      

robertoaribas says

I usually went through about $10,000 for three months of summer.

That is incredible. Thailand is on the wish list!

34   JodyChunder   ignore (3)   2013 May 17, 8:05am     ↓ dislike (0)   quote   flag      

Thailand is okay...too many tourists/Germans these days. Cuba is better. Just got back!

35   Goran_K   ignore (3)   2013 May 17, 8:08am     ↓ dislike (1)   quote   flag      

Thailand sounds nice, but I still have nightmares of South East Asia from when I was just out of business school. Spent a week in Vietnam, ate some street food, and got fluke worm.

I was in bed for nearly a week.

36   Goran_K   ignore (3)   2013 May 17, 8:25am     ↓ dislike (4)   quote   flag      

RentingForHalfTheCost says

Just what I was thinking. Slam!

Em I right?

37   JodyChunder   ignore (3)   2013 May 17, 8:26am     ↓ dislike (0)   quote   flag      

Goran_K says

ate some street food, and got fluke worm.

...which is caused by food fertilized with human feces
.

38   JodyChunder   ignore (3)   2013 May 17, 8:35am     ↓ dislike (0)   quote   flag      

tatupu70 says

Then compounding it by making up fanciful tales about all the exotic places he is taveling to this year...

That's why I keep all my old boarding passes -- in the event somebody tries to say I didn't *actually* travel to Scranton; Newark; Philly...Jacksonville...

39   Goran_K   ignore (3)   2013 May 17, 8:49am     ↓ dislike (1)   quote   flag      

Yeah it's super unbelievable to picture someone being able to scrounge up $2,000 and travel out of the country on vacation.

Luckily we have such believable exploits on here as someone who "made a couple of million dollars" renting out homes in places like Concord California, while trading stock tips with Warren Buffet, and predicting the rise and fall of markets with precise accuracy.

40   tatupu70   ignore (0)   2013 May 17, 9:10am     ↓ dislike (0)   quote   flag      

Goran_K says

Yeah it's super unbelievable to picture someone being able to scrounge up $2,000 and travel out of the country on vacation

lol--if you can do the following:

Italy , Brasil , Dominican Republic, Hawaii, Alaskan cruise, Australia. And that is just in 2013 that is booked

on $2,000 then I need to speak to your travel agent.

But regardless, I don't doubt that someone could travel to all those places. I just doubt that RFHTC will in 2013.

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