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I need to get a pair of the rose tinted glasses that obviously some people have When I read the linked article this is what I read:-
1. Builders took out fewer applications to start single-family homes for a fifth consecutive month, signaling a jobless rate at or above 9.5 percent for the past 13 months is hurting companies such as Hovnanian Enterprises Inc
2. A distressed housing market is among reasons Federal Reserve policy makers meeting today said they’re prepared to provide “additional accommodation” if needed to boost growth
3. “The housing market has found a bottom, and we’re bouncing along here,” said Thomas Simons, an economist at Jefferies Group Inc. in New York. “The market is challenged by supply, and until that is cleared out, it will be tough for the homebuilders. We also need additional job creation.”
4. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
5. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
6. The pace of the economic recovery and job growth has “slowed in recent months,” the Fed said in its statement.
7. The central bank said in its Beige Book survey of regional Fed banks earlier this month that there were “widespread signs of a deceleration” in the economy from mid-July through the end of August. Most areas of the U.S. reported “very low or declining home sales.”
As I have said in previous posts this RaRa posting is becoming rather boring and I am struggling to understand the motivation behind it.
Wondering if anybody has local new home starts per today's data release.
This could be helpful data for those trying to read the new home market as potential buyers. Good idea to read the entire article if interested.
U.S. Stock-Index Futures Advance as Housing Starts Top Estimates - Bloomberg
U.S. stock futures rose, signaling the Standard & Poor’s 500 Index may gain for a third day, as higher-than-estimated growth in housing starts and building permits bolstered optimism in the economic recovery. Wonder if that translates into increased housing starts in the Triangle and a boost in optimism here.
As I have said in previous posts this RaRa posting is becoming rather boring and I am struggling to understand the motivation behind it.
Seriously - what is so "RaRa" about this OP? He posted 2 links to a couple of Bloomberg articles (hardly a poster child for the overly optimistic) that indicated that home starts were up higher than expected. Then he questioned how home starts in this area compared to what was obviously national data.
I don’t think that the TOS of this forum says that only bad news can be shared and talked about. As far as the “motivation” goes – I think it is really quite simple – there are many people that do not like to solely focus on bad news all the time. It’s not anymore complicated than that. There are no hidden agendas, vested interests, denials of reality, etc. People know that the economy is not great – we are bombarded with news about it ALL the time - is it really productive to only focus on the bad and never try to find glimmers of hope?
"If you look for the bad in mankind expecting to find it, you surely will." - Abraham Lincoln
just a random sample of direct quotes from this thread - lol if this isn't RaRa I don't know what is
1. Great stats Rick and thanks for the stats. Looks like it might be the time to buy in some places and perhaps not in others. Doesn't that make everyone right in some way?
2. Gotcha by golly wow! Blog on and enjoy life on the Nay side.
Don't know about you but the positive people I know are the ones enjoying life and consuming and getting ahead financially. I guess it is all a case of where we sit personally.
3. With this thought and Ricks Wake County numbers I guess some will wonder if a bottom is at hand in the Triangle. I know some won't but I suspect some will.
4. Hopefully the following will have a positive impact on the local housing market
5. Shame on you for posting something that might possibly be in any way what-so-ever remotely construed as something resembling a positive take on current market conditions.
Quote:
Originally Posted by RickAbdella
Seriously - what is so "RaRa" about this OP? He posted 2 links to a couple of Bloomberg articles (hardly a poster child for the overly optimistic) that indicated that home starts were up higher than expected. Then he questioned how home starts in this area compared to what was obviously national data.
I don’t think that the TOS of this forum says that only bad news can be shared and talked about. As far as the “motivation” goes – I think it is really quite simple – there are many people that do not like to solely focus on bad news all the time. It’s not anymore complicated than that. There are no hidden agendas, vested interests, denials of reality, etc. People know that the economy is not great – we are bombarded with news about it ALL the time - is it really productive to only focus on the bad and never try to find glimmers of hope?
"If you look for the bad in mankind expecting to find it, you surely will." - Abraham Lincoln
I need to get a pair of the rose tinted glasses that obviously some people have When I read the linked article this is what I read:-
1. Builders took out fewer applications to start single-family homes for a fifth consecutive month, signaling a jobless rate at or above 9.5 percent for the past 13 months is hurting companies such as Hovnanian Enterprises Inc
2. A distressed housing market is among reasons Federal Reserve policy makers meeting today said they’re prepared to provide “additional accommodation” if needed to boost growth
3. “The housing market has found a bottom, and we’re bouncing along here,” said Thomas Simons, an economist at Jefferies Group Inc. in New York. “The market is challenged by supply, and until that is cleared out, it will be tough for the homebuilders. We also need additional job creation.”
4. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
5. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
6. The pace of the economic recovery and job growth has “slowed in recent months,” the Fed said in its statement.
7. The central bank said in its Beige Book survey of regional Fed banks earlier this month that there were “widespread signs of a deceleration” in the economy from mid-July through the end of August. Most areas of the U.S. reported “very low or declining home sales.”
As I have said in previous posts this RaRa posting is becoming rather boring and I am struggling to understand the motivation behind it.
By the way the S&P fell 2.93 today
anymore 'good news' for me to read?
Thank you for highlighting and do I you assume agree with number three that perhaps a bottom has been found? If a floor has been found than is it not reasonable that there ought not be much more speculation of significant price drops otherwise there is no current bottom. Isn't that good for sellers? Perhaps not rosy for those hoping for prices to fall more but for sellers. If there is a bottom is that not a suggestion that now is a good time to buy low? Isn't that what establishing a bottom is all about? Good news if true for anyone but those wanting prices to tank more. Are you saying that bottom prices and maximum selection isn't a good time to buy? If not you might want to exclude #3 from points you want to highlight. I mean you are the one highlighting the article I linked and I assume you are agreeing with the points the author made that you highlighted.
I need to get a pair of the rose tinted glasses that obviously some people have When I read the linked article this is what I read:-
1. Builders took out fewer applications to start single-family homes for a fifth consecutive month, signaling a jobless rate at or above 9.5 percent for the past 13 months is hurting companies such as Hovnanian Enterprises Inc
2. A distressed housing market is among reasons Federal Reserve policy makers meeting today said they’re prepared to provide “additional accommodation” if needed to boost growth
3. “The housing market has found a bottom, and we’re bouncing along here,” said Thomas Simons, an economist at Jefferies Group Inc. in New York. “The market is challenged by supply, and until that is cleared out, it will be tough for the homebuilders. We also need additional job creation.”
4. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
5. The gain in starts was led by a 32 percent jump in construction of multifamily units, which is often volatile. Work began on 4.3 percent more single-family houses, which accounted for 73 percent of the industry.
6. The pace of the economic recovery and job growth has “slowed in recent months,” the Fed said in its statement.
7. The central bank said in its Beige Book survey of regional Fed banks earlier this month that there were “widespread signs of a deceleration” in the economy from mid-July through the end of August. Most areas of the U.S. reported “very low or declining home sales.”
As I have said in previous posts this RaRa posting is becoming rather boring and I am struggling to understand the motivation behind it.
By the way the S&P fell 2.93 today
anymore 'good news' for me to read?
Just for clarification...the S&P did close down 2.93 today. That's after nearly a +25 gain over the past week and nearly a +90 point gain over the past month. Sure things are bumpy and likely will continue to be so for quite a while. Cheer up a little! I personally like to hear a little good news now and then, don't you?
Personally, I think you are just reading into things WAY too much. For example:
Quote:
Originally Posted by Beermat
1. Great stats Rick and thanks for the stats. Looks like it might be the time to buy in some places and perhaps not in others. Doesn't that make everyone right in some way?
I just thought he was thanking me for the stats - but maybe I'm just too full of myself. Unless you think that raw county permit data is RaRa... Plus I thought it was very diplomatic of him to say "Doesn't that make everyone right in some way?"
From now on I'll try to keep this picture in mind whenever I read any posts so I'll approach them from the right frame of mind ...
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When I read the linked article this is what I read:-
I couldn't agree more.
...
