Florida Home Sales Increase for 10th Straight Month

[angelatc]

Florida Home Sales Increase for 10th Straight Month; June Median Home Price Highest in 2009

http://mjperry.blogspot.com/2009/07/florida-home-sales-increase-for-10th.html

[Sarge]

And then there is this today,

http://www.bloomberg.com/apps/news?pid=20601087&sid=an17jgiccivM

[Sarge]

Doesn't sound great in CA right now,

http://www.bizjournals.com/losangeles/stories/2009/07/20/daily30.html

[jclay2]

And then there is this today,

http://www.bloomberg.com/apps/news?pid=20601087&sid=an17jgiccivM

This part really jumped out at me.


One in every eight U.S. households with a mortgage is now late on their payments or already in foreclosure, according to Jay Brinkmann, chief economist for the Washington-based Mortgage Bankers Association.

And to think according to the hazy bls, unemployment is only at 9.5%. Just imagine what this number would be at a bls of 12%!

[Sarge]

We are at 12 percent. The govt. just will not report that. Wait on NY to catch up and Detroit to go bankrupt.

Take a look at this,

http://www.bloomberg.com/apps/news?pid=20601087&sid=axsFM2t9Dmds

[Number19]

Florida Home Sales Increase for 10th Straight Month; June Median Home Price Highest in 2009

http://mjperry.blogspot.com/2009/07/florida-home-sales-increase-for-10th.htmlAh...an excellent post to ask a question that has been on my mind recently :

Why is the increased sales of existing homes considered a positive indication of economic turn-a-round? How has this had a significant impact on the economy - other than for the bankers?

[Bossobass]

My sister-in-law is a mortgage processor in Pittsburgh, Pa. She told me last week that all she's been doing is Fla mortgages for repos. In fact, she's become the Florida repo mortgage specialist for her company.

This is what should have been left to happen in the first place. The market will always correct itself, regardless of government intervention.

Instead, the speculators robbed us of trillions before the inevitable happened anyway. Instead of the perps going under and having their bones picked by the market, they stole our money to pay for the losses (because, after all, they're TOO BIG to fail) and are selling the shit paper to the open market of individual investors.

Change is great, eh?

Bosso

[Zippyjuan]

Ah...an excellent post to ask a question that has been on my mind recently :

Why is the increased sales of existing homes considered a positive indication of economic turn-a-round? How has this had a significant impact on the economy - other than for the bankers?

When people buy a house they tend to buy things to help fill it up- furnature, appliances, TVs and /or they spend money on things to fix up the house like carpet and paint or maybe even a new kitchen remodel. That spending supports jobs at other businesses like Home Depot.