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Because the government is artificially stimulating the housing market by keeping thousands of foreclosed homes off the market, so people have to buy new homes, instead of foreclosed homes that are held in stasis by HUD.
Home building in some parts of the Country are ongoing, and maybe slow , but Contractors are busy . I am building a new home and its hard to find workers these days, much worse than last year.
Multi-housing and apartment building is coming back all over the Country. There is a shortage beleave it or not for rentals and Condos. Its in the overbuilt, bubble areas of the country where things are still not moving. Look for building materials to go up , inflation in the next few months will start again , already have some places. Business/MFG. are buying equipment at a renued pace. capital goods investment is strong now , watch for improvement in this area when the numbers come out later this month.
Here in Upper Michigan , we seem to have missed the bubble, home prices have not gone down, and they are building more. There are jobs here in Marquette County, one of the bright spots in Michigan. The mines are shipping again and looking for new workers.... Some areas are not so bad , the recovery has begun , its the jobs that need to catch up...always 6 months behind investment.
Your post is full of BS dude. You are a rare exception. The economy is not recovering. Keep drinking the kool aid like a good little sheep. I'd love for you to post up your statistics saying businesses are buying, capital goods "investment" is strong now. Upper Michigan is a mess. The entire state of Michigan overall is in a depression and one of the hardest hit areas in the country. Mines looking for new workers? LMAO! Yippee! Mining is one of the most dangerous jobs in the world. No wonder Michigan is in such a bad spot when they've got citizens like you clamoring through bs propaganda.
Your post is full of BS dude. You are a rare exception. The economy is not recovering. Keep drinking the kool aid like a good little sheep. I'd love for you to post up your statistics saying businesses are buying, capital goods "investment" is strong now. Upper Michigan is a mess. The entire state of Michigan overall is in a depression and one of the hardest hit areas in the country. Mines looking for new workers? LMAO! Yippee! Mining is one of the most dangerous jobs in the world. No wonder Michigan is in such a bad spot when they've got citizens like you clamoring through bs propaganda.
Little wonder you have no friends, or stats. get sober , then come back with rational questions, maybe someone will listen to you...or maybe not.
Little wonder you have no friends, or stats. get sober , then come back with rational questions, maybe someone will listen to you...or maybe not.
Says the guy with about 6 to 1 post to rep...
Anecdotal evidence offered for a discussion on a national issue is a bit silly... compound that with the fact that your analysis of the "recovery" is borderline laughable. Nothing has been done to correct the issues that put us into the recession except assuming more debt and printing insane amounts of "money" (fiat currency) with interest rates at impossibly low numbers.
It is completely unsustainable and will not recover this way... Blowing sunshine is fine, I'm all for it. Just own it and don't submit "evidence" of a recovery that clearly does not exist.
Anecdotal evidence offered for a discussion on a national issue is a bit silly... compound that with the fact that your analysis of the "recovery" is borderline laughable. Nothing has been done to correct the issues that put us into the recession except assuming more debt and printing insane amounts of "money" (fiat currency) with interest rates at impossibly low numbers.
It is completely unsustainable and will not recover this way... Blowing sunshine is fine, I'm all for it. Just own it and don't submit "evidence" of a recovery that clearly does not exist.
Not so many read your post I see...just comparing. Quite silly anyway. You just want to project your agenda, at lest I project what I am seeing....big difference. The number compare last year with this year; source: Blomberg.
Look it up.Also , whats your reason for Cat's increase ?
If you want to talk economic theory and the deficit , go to the right forums. I think we should return to the Gold Standard , but thats not the subject here on this thread.
Not so many read your post I see...just comparing. Quite silly anyway. You just want to project your agenda, at lest I project what I am seeing....big difference. The number compare last year with this year; source: Blomberg.
Look it up.Also , whats your reason for Cat's increase ?
If you want to talk economic theory and the deficit , go to the right forums. I think we should return to the Gold Standard , but thats not the subject here on this thread.
lol ok
What is "Cat's increase"?
and out of curiosity, which is the "economic theory and the deficit" forum?
New homes are a pox on the market. Developers can hardly make construction cost and they depress the existing home market. Anyone looking to base an economy on home construction should look at Las Vegas or Phoenix
Sorry, when a product goes up 270% its hard to feel bad when it comes nearer to normal.
Home prices going down is a good thing. If you were dumb enough to buy in a bubble, too damned bad.
It is almost funny when new home sales not falling is considered good news....
Also durable goods orders only declined 1.3%(largest decline in a year) and this was greeted as good news too....economists expected a decline of 1.4%
Hard to actually put much faith in any of these so called experts....
New-Home Sales Down 29%
Latest Housing Report Suggests Real Estate Will Remain a Drag on the Economy WASHINGTON Sept. 24, 2010
New homes sold at the second-slowest pace on record in August, signaling that the housing market will remain a drag on the economy.
Last month's new home sales were unchanged from a month earlier at a seasonally adjusted annual sales pace of 288,000, the Commerce Department said Friday. Sales were down by 29 percent from the same month a year earlier.
Normally the building industry powers economic recoveries. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.
But housing has been at the center of this downturn and it shows no signs of recovering quickly.
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