patrick.net

This is what I was wondering. Was the recent decline a sign that the housing credit was only delaying the inevitable decline? Or was it a small blip in the rise due to buyers being pulled forward out for a couple of months?

I think it's still too soon to tell and it will depend on the overall economy.

tatupu70 says

This is what I was wondering. Was the recent decline a sign that the housing credit was only delaying the inevitable decline? Or was it a small blip in the rise due to buyers being pulled forward out for a couple of months?
I think it’s still too soon to tell and it will depend on the overall economy.

You really don't know? Just read a few articles on the front page of this website, that should give you a hint.

They could also be cooking the books:

http://market-ticker.org/akcs-www?post=165800

Compared to the July last year, pending home sales fell 19.1 percent.

Just sayin.

alpine says

Compared to the July last year, pending home sales fell 19.1 percent.

Just sayin.

Indeed.

Up 5.2% month-month relative to June, which was badly in the dumps because tax credit expired. It is most likely just a blip, and for that exact reason.

Even Lawrence Yun of NAR agrees:

Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead ..."

Isn't it strange to see Larry Yun be somewhat truthful for a change? But he's probably just telling some truth to argue for a new tax break.

woggs1 says

tatupu70 says

This is what I was wondering. Was the recent decline a sign that the housing credit was only delaying the inevitable decline? Or was it a small blip in the rise due to buyers being pulled forward out for a couple of months?
I think it’s still too soon to tell and it will depend on the overall economy.

You really don’t know? Just read a few articles on the front page of this website, that should give you a hint.

No--I don't. And neither do you. Or were you expecting July pending sales to be up 5%? (this is when you can shut up)

I don't think anyone in their right minds would sign up to purchase a home in May or Jun and that would be reflected in the home sales in June, July, August.

So it looks like pending in July is a little bit off the lows, this is just a small first step. August should be up slightly (2-5%?) as month to month vs. July as well (based on the morgage application survey indicator). It would be interesting to see how pending sales will look this fall the further we get away from tax credit environment.

Personally, my indicators are real estate agents and mortgage brokers which are frontline to determining what is happening in the market.

Isn’t it strange to see Larry Yun be somewhat truthful for a change?

I envy this guy. He must be making a million just by lying. Smart a$$.

"an industry group said"

Al Capone says there aint no Mafia.

so many ways to read the numbers,

how about 11.6% up in the west? or 12% drop from April thru July, not 27% in the west.

http://www.realtor.org/ro/research/4c0527579eaecee67187a6a85f5e6486/phs1007.pdf

tatupu70 says

woggs1 says

tatupu70 says

This is what I was wondering. Was the recent decline a sign that the housing credit was only delaying the inevitable decline? Or was it a small blip in the rise due to buyers being pulled forward out for a couple of months?

I think it’s still too soon to tell and it will depend on the overall economy.

You really don’t know? Just read a few articles on the front page of this website, that should give you a hint.

No–I don’t. And neither do you. Or were you expecting July pending sales to be up 5%? (this is when you can shut up)

You asked, I answered and you tell me to shut up. Too bad there is no ignore button on this forum :)

Did you take the red pill last night?

Liberals also double park. It's true, I've seen it. They also throw rocks at cats. Give me fascism any day.

Well, I saw one of them parking in a handicapped spot at the grocery store without hanging a placard from their mirror. I know it was a lib, 'cause they were driving a prius and carrying those reusable grocery bags.

Sons of bitches.

elliemae says

I know it was a lib, ’cause they were driving a prius and carrying those reusable grocery bags.

... lmao .... what were you doing at Trader Joes?

Bap33 says

… lmao …. what were you doing at Trader Joes?

Lots of Obama stickers on BMWs in my town.

Liberals are crusading to promote abortion and the gay agenda, while destroying traditional marriage and family values.

What really get's under my skin is the label "white trash." These are primarily undereducated relatively poor Caucasians, many of whom live in the bible belt. Ironically, even with their relative lack of education, they understand this liberal crusade you describe and as a whole vote as a block to reject it.

This is why the open borders are such a problem. As the demographics change and the lower socioeconomic, less educated among us are o f Mexican heritage, I don't believe we can count on them to understand the liberal scourge as well as impoverished undereducated whites folk do.

Bap33 says

elliemae says

I know it was a lib, ’cause they were driving a prius and carrying those reusable grocery bags.

… lmao …. what were you doing at Trader Joes?

uhhhh... research?

Nomo, for a split second I thought you had finally came to your senses. But no, you're still as brain damaged as ever. Your twisted mantra is: "right will be called wrong, and wrong will be called right". Yup, its says a lot about you - you and your liberal ilk ARE the enemy within.

Why do you hate freedom, the constitution, sound money, the rule of law, privacy, private property, personal responsibility, etc, so much...don't bother - its a rhetorical question.

You had me at "rats."

vs.

One thing about liberals is... they alone of all folks are not racist... they simply hate everyone who does not agree with them.

Liberals are enthusiatic supporters of the Ground Zero mosque, and yet hate the preacher who wants to burn the qu'ran... and that's a paradox... one is based on freedom of religion regardless of the insensitivity and questionable nature of whether muslimism qualifies as a religion (it's really a political party, just like National Socialism... the nazis for our liberal friends who know nothing of history... oh and Ground Zero was where muslims killed 3,000 American in case you folks forgot)... and they oppose the burning because it represents freedom of speech.

A queer bunch... let's send them to Saudi Arabia with a case of bibles so they can figure out what side they are on.

Other than it being against the law?

Ever see someone burn alive? Could you imagine it being your Dad, Mom, Wife, Children, Yourself? It's not a very fast death, and if you live, its, not fun. You can say you don't care, but we all know the truth, when your ass is on fire, you would be praying to god to die

Its pretty hard to burn down new construction. Fiberglass insulation isn't flammable, nor is gypsum, granite, or ceramic tile.

Not to mention the mandatory sprinkler systems on larger houses.

APOCALYPSEFUCK says

The style I am most familiar with is 4-8 gallons of kerosene poured down the main stairway. Usually takes the roof off.

Are you a firefighter by any chance? They always know the best way to burn down a house.

Yep, he's sitting in jail right now. A conservative christian politician who got nailed on bribery charges. That's unusual. Don't they usually go for adultery, pedophilia and that kind of thing?

FOB ---> Fan of Bob

anab01, great to have you with us!

This forum is a place where we argue whether liberals or conservatives are the biggest poopyheads!

Hope you can join us!

Well Liberals have to be the biggest poopyheards. I've seen them libs eat organic unbaptized babies for lunch in the Berkeley Bowl parking lot. They want that damn mosque built on the rubble of America's most holy ground at Ground Zero. I hear that all of them are secret Muslims just like their leader Barrack Obama. Heck, I'll bet that many of them weren't born in this country like Hussein Obama.

lol .. how did a bot get past Sir Pat?

Interesting that there is a MASSIVE FIRE in San Bruno Right Now as i type. A entire neighborhood. People I love and know live right in that area.......................... I makes more sense to rent out the foreclosed homes for cash cheap, until the bank catches on. I hope your not located near San Bruno , CA

APOCALYPSEFUCK

I am turning this forum to the FBI......

I sense that someone might be banned soon.

Liberals are destroying our once great nation with their anti-American agenda. They want to raise taxes, increase welfare, weaken our defenses, and leave our borders open. Liberals want the terrorists to win and are now supporting a Islamist mosque on the hallowed grounds of the Word Trade Center. Liberals are crusading to promote abortion and the gay agenda, while destroying traditional marriage and family values.

Forgetting for a minute the unethical criminal aspect of it, I don't think it's even logical. The insurance proceeds would go to the bank. There is no benefit over walking away, because the "owner" would still owe the mortgagor the amount underwater. And their credit would still be destroyed if they didn't pay it.

So unless you think banks are going to start resorting to this, I don't see it happening.

The mortgagor doesn't panic sell. If it get's down to the net present value of the rental income stream then worst case for them, they rent it out.

simchaland says

I sense that someone might be banned soon.

Yes, agree. When can we get a "flag as impolite" at the THREAD level.

I'm certainly no expert on 1970s arson, or any arson for that sake, but was that particular wave of big-city arson by commercial landlords that could sell the land for more than they could rent out the slum buildings? I don't think the situation is the same at all.

Nomograph says

Luckily this website is monitered by the FBI, so they already have your IP address.

I never got any request for user data from the FBI, or any other agency. But I suppose the web hosting company could monitor the patrick.net web server without my knowledge, making my wishes irrelevant.

APOCALYPSEFUCK says

We must be prepared for the wholesale burning of large swaths of underwater properties.

I think this guy is from a parallel universe where McCain won the 2008 election. Definitely not a happy camper.