Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [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 07-23-2009, 02:06 PM
 
Location: Stewartsville, NJ
7,577 posts, read 22,604,405 times
Reputation: 1260

Advertisements

Progress?

Dow Cracks 9,000 on Rise in Home Sales
Reply With Quote Quick reply to this message

 
Old 07-23-2009, 02:12 PM
 
1,931 posts, read 3,413,291 times
Reputation: 956
As usual reality lies somewhere in the middle. We have a long road ahead of us in terms of "the market" and real estate. At this point in time we just have too many people who were "counting on" the Dow at 14k not 9k. With that being said the steady uptick in the market is good to see for everyone, I guess some of Obama's moves are working out. Or at least one would think they are.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 04:47 PM
 
3,756 posts, read 9,552,564 times
Reputation: 1088
Quote:
Originally Posted by wileynj View Post

Thanks for the good news!!! BlueDiamond
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 05:25 PM
 
Location: Montgomery County, PA
2,771 posts, read 6,274,924 times
Reputation: 606
Quote:
Originally Posted by wileynj View Post
I think this is a sign that we may be seeing some light at the end of the tunnel.

However, the stock market is a forward indicator as are trends in home sales.

Two other key indicators -- unemployment, which trails the stock market, looks like it will stay high for the rest of the year.

House prices still aren't done correcting. The uptick in sales is largely in response to the fact that prices have fallen. In some states (but not NJ), affordability is more or less in line with historical norms. However, there are a number of market-distorting government interventions that have gone into this: the government are trying to put downward pressure on rates, and use a kind of "public/private bail out a home owner program" with this first time buyer credit.

The federal reserve are hoping to hold rates down for a while. This will stabilize national home prices. NY metro prices will keep falling for a little while.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 05:38 PM
 
636 posts, read 1,423,680 times
Reputation: 167
Much like the post-tech bubble "recovery", this upswing is manipulated by the Fed and cannot last forever. The only reason we are at 9,000 is because of artificially low interest rates, too much credit, and unproductive bailouts. These policies are unsustainable and will make us worse off in the long-term. But hey, whatever gets our politicians through the day, right?
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:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


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 > U.S. Forums > New Jersey

All times are GMT -6. The time now is 05:02 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - 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, 36, 37 - Top