June 26, 2007

Ready? Chat about the new home sales report released today here

Key stat is gonna be selling price this year versus LAST YEAR, while the MSM will try to confuse the sheeple with May versus April comparisons. Also don't forget the margin of error on this report is like 13% either way - so why we even look at it I'm not sure but it's usually fun.

New-Home Sales in U.S. Probably Fell in May After April Surge

June 26 (Bloomberg) -- Purchases of new homes in the U.S. probably dropped last month, ending speculation that a jump in April sales signaled a recovery in demand, economists said before a government report today.

Sales fell 6 percent to an annual pace of 922,000 in May from a 981,000 rate the previous month, according to the median of 71 economists' forecasts in a Bloomberg News survey. Purchases unexpectedly surged 16 percent in April, the most in 14 years.

A jump in mortgage rates this month and a glut of unsold properties on the market will continue to discourage home buying and construction, economists said. The housing slump, already the worst since 1991, will restrain the economy for the rest of the year and potentially into next.

``Builders are continuing to be quite cautious and are taking actions to bring the supply of homes more in line with the demand,'' said Drew Matus, a senior economist at Lehman Brothers Holdings Inc. in New York.

The Commerce Department is scheduled to issue the new-home sales report in Washington at 10 a.m. Estimates ranged from 850,000 to 990,000.


Anonymous said...

When do we get the Titanic hitting the iceberg in the north Atlantic? Especially with all of the references about Bear Stearns ($3.2 billion self-financed bailout) only being "the tip of the iceberg"?

Bank of America, Citibank, etc. own a ton of CDOs.

Anonymous said...


'Oh the humanity'!

Anonymous said...

Oh the humanity!

I doulble that, ha ha ha, great name for a real estate company

Anonymous said...

Lennar Swings to Quarterly Loss,
Sees Continued Market Weakness

June 26, 2007 7:03 a.m.

Lennar Corp., one of the nation's largest home builders, swung to a fiscal second-quarter loss as results were hurt by continued deterioration in the housing market and the company warned of further market weakness in the current quarter.

Anonymous said...

Winthorp we are ruined!

Dr. No said...

In case you missed it, Kimberly Guliblefoyle, solved the housing crisis on Fox Live this morning.

She said:

The reason for the housing slowdown is all of the illegals are not willing to buy a house due to uncertainty over the immigration bill.


Then this drooling moron says:

Because credit has tightened, there are no more no $ down loans.

What type of loan does she think the poor wetbacks are going to use?

FAUX news sucks china's ****.