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"The increase in demand prompted by the tax credit has lifted construction," wrote Ian Shepherdson, economist at High Frequency Economics, in a research note.
"But the expiration of the credit ... has made homebuilders wary about continuing to add new homes during the summer," he said.
Quote:
"In the near-term the drop in permits clearly signals falling starts ahead," Shepherdson wrote
In a plastic tent under a glorious desert sky, Richard Lee preached the gospel of the second chance.
The chance to make money on the next housing boom “is like it’s never been,” Mr. Lee, a real estate promoter, assured a crowd of agents, investors and bankers. “We’re going to come back like you’ve never seen us before.”
HAMP modifications are being rejected at record pace, as CNN/Money reported today. Foreclosure proceedings will continue once the 3 month trial period expires for these people. This will add to shadow inventory at a record pace. We'll just see how well the subsequent price drops bode for home construction.
But it cant be!!!!!
We have a half-breed muslin president!
Housing starts hit 1-1/2-year high - Yahoo! News (http://news.yahoo.com/s/nm/20100518/bs_nm/us_usa_economy - broken link)
Quote:
Housing starts touched a 1-1/2-year high in April, but a drop in building permits to a six-month low suggested the housing market recovery may struggle to gain momentum without more government aid.
Taxpayer funded surge - I don't want to pay anymore for people to buy their homes.
Quote:
Building permits, which give a sense of future home construction, dropped 11.5 percent to a 606,000-unit pace last month, the lowest level since October 2009. Markets had expected a 680,000-unit rate in April.
An "unexpected" decline I guess.
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settle down
