House Sales Hit Lowest Levels In Decades

[Brock Landers]

Funny, since a year ago my company has done better than at any time in the previous 5 or 6. Salud boys

[Bluehorseshoe]

The real estate market was a bubble and Wall Street made it crash harder than it should have. That's it.

Now you have all these people with shit credit (who can't get back in the game for another 5 years or so) and people wonder why real estate is down the toilet. Where are the buyers coming from????

[Darkside Magick]

this is a cash market...im going to say this...no one cares about your credit.... if you got cash the owner will "owner finance" the house for you. you got any type of down payment money you can get into a house without any bank

[Bluehorseshoe]

this is a cash market...im going to say this...no one cares about your credit.... if you got cash the owner will "owner finance" the house for you. you got any type of down payment money you can get into a house without any bank

What?

If those people have cash to buy a home, it's a safe bet their credit is good.

[tltaylor89]

US can reestablish dominance by wiping a country off the face of the Earth.

[Darkside Magick]

u dont need the whole amount...i said the down payment which will be next to nothing since these house have to go.

like here in los angeles there are house that are like 500000 which back before the bubble you needed the traditional 20 per cent....now if you got 30000 you are in.

[Bluehorseshoe]

u dont need the whole amount...i said the down payment which will be next to nothing since these house have to go. like here in los angeles there are house that are like 500000 which back before the bubble you needed the traditional 20 per cent....now if you got 30000 you are in.

Anybody who's screwed up their credit in the last two years doesn't have $30,000 for a down payment on a new home.

[Darkside Magick]

people got money..i dont know where you stay but people got money..what i see now is that people are really try to put people who are upside down in a real corner.. a person may have a house for 500000 the person who see it say ill give you 280000 the person say hell no but come to find out the 280000 is probably the best offer because they know that the market has not bottom out yet.

i been to atlanta, miami, las vegas and nyc in the last 6 months and i see people with alot of money...one may have to change their glasses or surrounding to see it

[Darkside Magick]

they have some condos they are building in buckhead section of atlanta...they presold every unit in less then 3 days!!!!

[statnerds]

been saying this for damn near a year now

anything positive in the economy is smoke and mirrors.

cash for clunkers. home buyer credit. smoke and fukkin mirrors.

i warned you fuks when the home buyer credit ended, the housing market would grind to a halt. people talkin shit on here like it isn't the worst housing market in 11 years. well, it is.

Brock, pardon the French but STFU with this bullshit. i'm just happy you stopped posting threads about jerking off over your 401K doing awesome...remember when you said the Dow was going to 11K and then to the moon.

there are zero fundamentally sound reasons why anyone should think this economy is in recovery or going to recover.

taxes will go up on all Americans in Jan '11, and there are a fukton of ARMs getting ready to reset again. and oh yeah, nobody has a fukkin job, except government workers. 7.8 million jobs lost since bambi took over.

shit will get worse before it gets better.

one of you pipe smoking hippies give one solid fundamental reason to prove the economy is improving.

[Emily_Haines]

Brock, pardon the French but STFU with this bullshit. i'm just happy you stopped posting threads about jerking off over your 401K doing awesome...remember when you said the Dow was going to 11K and then to the moon.

If brock 401K was kicking so much ass and his company is kicking ass as well as winning almost every bet he makes. Why was he delivering pizza's well into is 40's?

[philswin]

I think we can forget about "spending our way out of it"

[Skidcom]

No quick fix. It will take a really long time to fix this mess

[brooks85]

im looking for another piece of property, wont find a better time to get it.

[RichardMoss]

Based on the Commerce dept new home sales fell 12.4 percent in July. lowest % ever, wow!

[Brock Landers]

If brock 401K was kicking so much ass and his company is kicking ass as well as winning almost every bet he makes. Why was he delivering pizza's well into is 40's?

401K was at 100 dimes a few weeks ago, back to 93 now...

And i don't deliver pies anymore fella...it was for quick cash and served its purpose. 40's? check your fukking eyes pal

[pavyracer]

Why will you buy a brand new house when then market is overcrowded with existing homes?

[tltaylor89]

Why will you buy a brand new house when then market is overcrowded with existing homes?

New homes are
counted as
existing unless he is building one from
the ground up.

[pavyracer]

New homes are
counted as
existing unless he is building one from
the ground up.

No if a builder builds a new subdivision and the house hasn't been sold is considered a new home sale when is sold. Existing is when there is a previous owner on the title.

[tltaylor89]

Maybe a brand new home presents better value over an existing home.Although I diagree now way am I paying 30% down .

[Doug]

Maybe a brand new home presents better value over an existing home.Although I diagree now way am I paying 30% down .

I doubt that ! Prices are so low that material cost on new must be astronomical in comparison.

A house isn't like a car. Used cars go down in value fast. Most homes are pre-owned, a 10 year old house tends to get minor issues fixed and develops nice mature landscaping over that time. New houses can have butt ugly yards/ lawns, etc, I prefer it broken in.

[Jonah]

Noone wants to be a player with Obamacare looming.

[Doug]

Youse guys are saying the Great Depression was 1929-1933. I think I could argue for 1929- 1939....just when WW2 was kicking in, to end it .....sort of.

[Dark Horse]

im looking for another piece of property, wont find a better time to get it.

Same here.

For the record, this housing news was just another example of market manipulation. House prices were well up from last year in June, and sales were high, but July was lower because a tax credit ran out in June. So people got their buys in in June. Imagine what you could do, financially, if you could tell the media what to write. Send everyone into a panic, and cash in before people get their heads screwed back on.

[EmpireMaker]

this is a depression and it was caused in large part by Bush

[Bluehorseshoe]

Same here. For the record, this housing news was just another example of market manipulation. House prices were well up from last year in June, and sales were high, but July was lower because a tax credit ran out in June. So people got their buys in in June. Imagine what you could do, financially, if you could tell the media what to write. Send everyone into a panic, and cash in before people get their heads screwed back on.

That holds true more so for the stock market. There's tangible reasons for real estate not to bounce back for a while. You look at property taxes in some areas and they've doubled over the last two years.

[doublej95]

Maybe a brand new home presents better value over an existing home.Although I diagree now way am I paying 30% down .

I put 27% down around 70k on mine back in October. It's a great time to buy if you are in the market. Banks will go out of there way for the ones that bring the cash in. Money talks and bull walks.

[jjgold]

been saying this for damn near a year now

anything positive in the economy is smoke and mirrors.

cash for clunkers. home buyer credit. smoke and fukkin mirrors.

i warned you fuks when the home buyer credit ended, the housing market would grind to a halt. people talkin shit on here like it isn't the worst housing market in 11 years. well, it is.

Brock, pardon the French but STFU with this bullshit. i'm just happy you stopped posting threads about jerking off over your 401K doing awesome...remember when you said the Dow was going to 11K and then to the moon.

there are zero fundamentally sound reasons why anyone should think this economy is in recovery or going to recover.

taxes will go up on all Americans in Jan '11, and there are a fukton of ARMs getting ready to reset again. and oh yeah, nobody has a fukkin job, except government workers. 7.8 million jobs lost since bambi took over.

shit will get worse before it gets better.

one of you pipe smoking hippies give one solid fundamental reason to prove the economy is improving.

It is getting harder and harder to survive out there, any young people better think 20x before having a family because most of them are in for a very hard time, the only way to beat them is be a couple pool your money and never have fukkin kids.

[Doug]

It is getting harder and harder to survive out there, any young people better think 20x before having a family because most of them are in for a very hard time, the only way to beat them is be a couple pool your money and never have fukkin kids.

That will ensure you get your SS check, JJ !