U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 06-02-2009, 08:43 AM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,800,537 times
Reputation: 7186

Advertisements

Well, more good news today - just more evidence the economy WILL turn around:

"Pending sales of existing homes rose for the third month in a row in April, boosted by record low mortgage rates and special incentives for first-time buyers, a real estate trade group reported Tuesday."

This was the biggest gain in 8 years.

Pending Home Sales Up 3 Months in a Row - FOXBusiness.com (http://www.foxbusiness.com/story/markets/industries/real-estate/pending-home-sales--months-row/ - broken link)

"NEW YORK - The manufacturing sector's contraction slowed in the U.S. in May and is performing better than analysts had expected, mirroring similar reports from Asia and Europe."

Manufacturing performs better than expected - Stocks & economy- msnbc.com

"WASHINGTON - Fresh signs emerged Monday that the recession is letting up.

Manufacturing's slide is slowing. Builders are boosting spending on construction projects — including homes. And consumers aren't cutting back as much as some had feared. "

"What looked like a flicker of light at the end of the tunnel is now starting to look like a beacon," said Richard Yamarone, economist at Argus Research. "We are no longer in the deep throes of recession. A recovery may be just a few months away."

More signs the recession may be abating - Stocks & economy- msnbc.com

Make no mistake about it, we are STILL in a severe recession - but as most economists have been saying for several weeks now - it's looking more and more like the we are set to hit bottom and begin the long upward slog later this year.

Ken
Reply With Quote Quick reply to this message

 
Old 06-02-2009, 10:29 PM
 
34,990 posts, read 34,764,818 times
Reputation: 6163
Pros Cast a Wary Eye on Rising Stocks, Rates - BusinessWeek
Reply With Quote Quick reply to this message
 
Old 06-02-2009, 10:35 PM
 
69,372 posts, read 55,536,220 times
Reputation: 9363
Quote:
Originally Posted by RD5050 View Post
Dow at 8,729 as of 2:21 EST - UP 2.79% today !!!
That kinda happens when you change out the stocks on the DOW

I can put Buffets stock on the DOW and it would jump to 100,000 overnight.. WOW, thats progress..
Reply With Quote Quick reply to this message
 
Old 06-02-2009, 10:36 PM
 
69,372 posts, read 55,536,220 times
Reputation: 9363
Quote:
Originally Posted by JBoughton View Post
Fixed your post
So you have to lie about what I said in order to justify further lying? Democrats never stop making me laugh..
Reply With Quote Quick reply to this message
 
Old 06-02-2009, 10:37 PM
 
69,372 posts, read 55,536,220 times
Reputation: 9363
Quote:
Originally Posted by LordBalfor View Post
Well, more good news today - just more evidence the economy WILL turn around:
Ahh yes, ignore that other "good news" that the average sales price of homes fell over 15%.. yeah.. and you think thats good news..
Quote:
Originally Posted by LordBalfor View Post
Pending Home Sales Up 3 Months in a Row - FOXBusiness.com (http://www.foxbusiness.com/story/markets/industries/real-estate/pending-home-sales--months-row/ - broken link)
Sorry, I think you've discredited "Faux", so that doesnt count.

And since Obama hasnt spent his stimulus bill yet, you'll be sure to credit Bush I guess. After all, if you want to blame him for actions taking place today, then obviously he deserves the credit for your pretend good news..
Reply With Quote Quick reply to this message
 
Old 06-02-2009, 11:10 PM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,800,537 times
Reputation: 7186
Quote:
Originally Posted by pghquest View Post
Ahh yes, ignore that other "good news" that the average sales price of homes fell over 15%.. yeah.. and you think thats good news..
Not "good news" - but part of the reason that home sales are picking up (that and the interest rate cuts are finally starting to have an effect) - and was bound to happen eventually (despite all the "doom and gloom" folks' hopes).

Quote:
Originally Posted by pghquest View Post

Sorry, I think you've discredited "Faux", so that doesnt count.
I specifically used the FOX News (or "FAUX" if you prefer) link because a whole lot of goomba's on this board (maybe yourself included) seem to only believe that source - and that source alone. It was of course reported by every major news source. I would have thought you were smart enough to figure that out for yourself. I guess I was wrong.

Quote:
Originally Posted by pghquest View Post

And since Obama hasnt spent his stimulus bill yet, you'll be sure to credit Bush I guess. After all, if you want to blame him for actions taking place today, then obviously he deserves the credit for your pretend good news..
Did I say ANYWHERE in this post who was to credit?
The fact is, the credit is shared (though Bush also takes a big part of the blame for letting the situation get so bad to begin with). Part of the coming recovery is due to the results of the TARP money, part of it due to interest rate cuts, part of it due to increasing optimism about the economy, part of it is due to inventories finally running out - and when the stimulus money starts to have an effect, the recovery will REALLY get underway.

You can moan and groan and claim doom and gloom all you want, but your puny opinion won't change a thing. The fact is, the recession is bottoming out and recovery will begin later this year (as I've been saying for months).

I'm a happy camper.
Eight long years of Bush wrecking the country is FINALLY at an end.


Ken

Last edited by LordBalfor; 06-02-2009 at 11:27 PM..
Reply With Quote Quick reply to this message
 
Old 06-03-2009, 05:14 AM
 
69,372 posts, read 55,536,220 times
Reputation: 9363
Quote:
Originally Posted by LordBalfor View Post
Not "good news" - but part of the reason that home sales are picking up (that and the interest rate cuts are finally starting to have an effect)
Um, the last interest rate change was done by Bush..

http://www.newyorkfed.org/markets/st...s/fedrate.html

Quote:
Originally Posted by LordBalfor View Post
You can moan and groan and claim doom and gloom all you want, but your puny opinion won't change a thing. The fact is, the recession is bottoming out and recovery will begin later this year (as I've been saying for months).
My opinion has nothing to do with the economy, you can sit here and pretend yours does..

Home sales are up because the prices DROPPED.. PERIOD.. Take a $75,000 home, it drops by 15%, and then the government giving people another 10% welfare check for first time home buyers, and that $75,000 home is $50,000. Dont even pretend that interest rates have anything to do with it, or that this is positive news.
Quote:
Originally Posted by LordBalfor View Post
I'm a happy camper.
This makes you happy? Man you must be trying to find postive news in just about anything..

Last edited by pghquest; 06-03-2009 at 05:48 AM..
Reply With Quote Quick reply to this message
 
Old 06-03-2009, 06:33 AM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 19,320,578 times
Reputation: 2499
How many of these home sales were foreclosures?
Reply With Quote Quick reply to this message
 
Old 06-03-2009, 07:14 AM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,800,537 times
Reputation: 7186
Quote:
Originally Posted by pghquest View Post
Um, the last interest rate change was done by Bush..
Did I say it WASN'T?


Quote:
Originally Posted by pghquest View Post
My opinion has nothing to do with the economy, you can sit here and pretend yours does.
My doesn't either - did I EVER say it did?


Quote:
Originally Posted by pghquest View Post
Home sales are up because the prices DROPPED.. PERIOD.. Take a $75,000 home, it drops by 15%, and then the government giving people another 10% welfare check for first time home buyers, and that $75,000 home is $50,000. Dont even pretend that interest rates have anything to do with it, or that this is positive news.
No - homes sales are UP because:
1) Prices dropped
2) The new government home buyer incentives
3) Interest rates are low and folks know they won't remain this low forever - and in fact could start going up at any time. In fact once they DO start going up you'll likely see a stampede of buyers deciding to move before they miss out on the very best financing.

Quote:
Originally Posted by pghquest View Post
Dont even pretend ... that this is positive news.
What? You think it's BAD news that homes have started to sell?
Well, I guess it is if you are hoping for a financial disaster for America so that your party has more than shred of a chance to make political gains in the next election.

Quote:
Originally Posted by pghquest View Post
This makes you happy? Man you must be trying to find postive news in just about anything..
So what does all the signs that we are near or at the bottom of the recession supposed to do? - make me sad? - make hope the economy drops even more?


YOU may feel that way (for the purely selfish reasons I mention above) but I'M HAPPY there is a light at the end of the tunnel - that manufacturing has started to increase, that peoples 401Ks have made substantial rebounds in the last 3 months, that house sales have finally started to happen again. All of that is good news in a time when - for the last year and half - there has not been a lot of good news. I know, I know - you don't like good news. Bad news is good news for you.

Sorry buddy, but I suspect that over the next few months you're going to see more and more of the "dreaded" good news you seem to dislike so much - so yeah, I'm happy.

Ken
Reply With Quote Quick reply to this message
 
Old 06-03-2009, 07:17 AM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,800,537 times
Reputation: 7186
Quote:
Originally Posted by oz in SC View Post
How many of these home sales were foreclosures?
Probably most - but that's fine, I don't care. Every foreclosed home off the market is one more house off the market. Foreclosed homes are bound to be the first to sell - I wouldn't expect it to be otherwise. The glut of foreclosed homes is simply the ugly residue of the Bush years. It ain't going away overnight, but it IS going away.

Ken
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 06:33 AM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top