Results 1 to 20 of 20

Thread: Housing Recovery: Housing Starts at 4-Year High

  1. #1

    Default Housing Recovery: Housing Starts at 4-Year High

    Starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed today in Washington. The median estimate of 82 economists called for starts to fall to a 840,000 pace. Building permits, a proxy for future construction, eased after surging the previous month.

    “Housing is absolutely going in the right direction,” said Harm Bandholz, chief U.S. economist at UniCredit Group in New York, who projected 870,000 starts at an annual rate. “Excess supply has been wound down and there’s a steady increase in demand. That’s good for construction.”
    http://www.bloomberg.com/news/2012-1...year-high.html

    Banks can't keep up with all the good news in housing, either:

    U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.
    http://www.bloomberg.com/news/2012-1...year-high.html
    Last edited by Jordan; 11-20-2012 at 07:20 AM.



  2. Remove this section of ads by registering.
  3. #2

    Default

    Boots on the ground calling bullshit!

    I haven't seen any type of rebound here in the sticks..

  4. #3

    Default

    Michigan isn't average, but the supply here is anything but depleted. My husband and I can spot abandoned homes before they're listed.
    .[QUOTE]"Every great new thought was opposed. Every great new invention was denounced. The first motor was considered foolish. The airplane was considered impossible. The power loom was considered vicious. Anesthesia was considered sinful. But the men of unborrowed vision went ahead. They fought, they suffered and they paid. But they won." - Ayn Rand, The Fountainhead[/QUOTE]
    ..
    .

    I blog at Red State Eclectic, and I tweet here,.

  5. #4

    Default

    Quote Originally Posted by tod evans View Post
    Boots on the ground calling bullshit!

    I haven't seen any type of rebound here in the sticks..
    Housing is local. Sorry to hear your area is weak.

  6. #5

    Default

    Quote Originally Posted by angelatc View Post
    Michigan isn't average, but the supply here is anything but depleted. My husband and I can spot abandoned homes before they're listed.
    Shame - you guys have the best summer weather the world has ever seen.

  7. #6
    Banned
    Join Date
    Nov 2012
    Location
    NC
    Posts
    1,380

    Default

    Quote Originally Posted by tod evans View Post
    Boots on the ground calling bullshit!

    I haven't seen any type of rebound here in the sticks..
    What they're not telling is how many wind up in foreclosure. Someone needs to tell them the sham election is over. They can stop lying now.

  8. #7

    Default

    Quote Originally Posted by Jordan View Post
    Shame - you guys have the best summer weather the world has ever seen.
    Indeed. If I had more money, I'd buy more homes. Every week I see one for around $50,000 that I would love to add to a portfolio.
    .[QUOTE]"Every great new thought was opposed. Every great new invention was denounced. The first motor was considered foolish. The airplane was considered impossible. The power loom was considered vicious. Anesthesia was considered sinful. But the men of unborrowed vision went ahead. They fought, they suffered and they paid. But they won." - Ayn Rand, The Fountainhead[/QUOTE]
    ..
    .

    I blog at Red State Eclectic, and I tweet here,.

  9. #8

    Default

    U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.
    This time is different! Certainly, there is no chance that a fed induced housing bubble will result in tears!! I guess I am feeding the troll, but someone needs to respond to your nonsense. Seriously, this is the third or fourth thread you have posted without once mentioning the federal reserve or falsified government economic numbers. This is a full blown ponzi at work. Don't get caught on the wrong side, when the ponzi reverses itself.

  10. #9
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    25,205

    Default

    Bank stocks have been sliding and they have been laying people off .

  11. #10
    Site Staff - Moderator Brian4Liberty's Avatar
    Join Date
    Jul 2007
    Location
    USA
    Posts
    25,994
    Blog Entries
    10

    Default

    And what is the Federal Reserve going to do with all of the mortgages they are buying from JP Sachs with QE-Infinity money?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  12. #11
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    25,205

    Default

    Quote Originally Posted by Brian4Liberty View Post
    And what is the Federal Reserve going to do with all of the mortgages they are buying from JP Sachs with QE-Infinity money?
    I have been wondering about that....

  13. #12
    Site Staff - Moderator Brian4Liberty's Avatar
    Join Date
    Jul 2007
    Location
    USA
    Posts
    25,994
    Blog Entries
    10

    Default

    Quote Originally Posted by oyarde View Post
    I have been wondering about that....
    They may just hold them until the economy "recovers", which would be a long time. They could turn right around and sell them back to JP Sachs for pennies on the dollar. The last, and least likely scenario is that they could sell them at local auctions to the general public.

    Any others?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  14. #13

    Default

    @angelatc Smart move. So much depressed real estate out there despite cap rates kicking ass. I like the way you see this as an opportunity; rents are high and money is cheap!

    @oyarde Investment banking and sales and trading jobs are not mortgage origination jobs.

    @jclay2 Don't be so negative. It's bad for your blood pressure. Nothing but good to say about current fed policy. Never has it been easier to make a killing. Sometimes you gotta play the game. It's not too late to swap your bullion for cash flowing real estate.

    @Brian4liberty Bernanke is a smart dude. I'm sure he'll hang on to those mortgages and enjoy the ride.
    Last edited by Jordan; 11-20-2012 at 11:09 AM.

  15. #14

    Default

    Fact is that the current batch of home buyers is coming from the best part of the pool; they're super creditworthy people who are putting down big money on down payments. Hard to call it a bubble! This.is all about credit quality and recovery, not lending standards or risky monetary policy.
    Last edited by Jordan; 11-20-2012 at 11:07 AM.

  16. #15
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    25,205

    Default

    Quote Originally Posted by Brian4Liberty View Post
    They may just hold them until the economy "recovers", which would be a long time. They could turn right around and sell them back to JP Sachs for pennies on the dollar. The last, and least likely scenario is that they could sell them at local auctions to the general public.

    Any others?
    I do not see any move but to hold them , but I doubt they realize how long that will require ...

  17. #16
    Site Staff - Moderator Brian4Liberty's Avatar
    Join Date
    Jul 2007
    Location
    USA
    Posts
    25,994
    Blog Entries
    10

    Default

    Quote Originally Posted by Brian4Liberty View Post
    They may just hold them until the economy "recovers", which would be a long time. They could turn right around and sell them back to JP Sachs for pennies on the dollar. The last, and least likely scenario is that they could sell them at local auctions to the general public.

    Any others?
    Another option is that they could resurrect that Bill submitted by Chucky Schumer and some other Senator to sell the houses to foreigners, and include a free Visa as a bonus.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  18. #17
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    25,205

    Default

    Quote Originally Posted by Brian4Liberty View Post
    Another option is that they could resurrect that Bill submitted by Chucky Schumer and some other Senator to sell the houses to foreigners, and include a free Visa as a bonus.
    I figured they were already doing that and just not telling anyone.

  19. #18
    Site Staff - Moderator Brian4Liberty's Avatar
    Join Date
    Jul 2007
    Location
    USA
    Posts
    25,994
    Blog Entries
    10

    Default

    Quote Originally Posted by oyarde View Post
    I figured they were already doing that and just not telling anyone.
    IIRC, the proposal was more of a streamlining and expansion of the process.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  20. #19
    Member Zippyjuan's Avatar
    Join Date
    Feb 2008
    Location
    Hosting FEMA Party
    Posts
    20,010

    Default

    Also noted in the article:
    A separate report today from the Labor Department showed that payrolls increased in 35 states in October, while the unemployment rate dropped in 37, showing much of the job market is gaining traction.

    California led the nation with a 45,800 advance in employment, followed by Texas with 36,600 more jobs. The jobless rate dropped the most in South Carolina, Alaska and Wisconsin.

    Housing starts are the latest in a batch of data showing a pickup in momentum. An index of homebuilder sentiment rose to a six-year high this month, and sales of existing homes were stronger than forecast in October. Residential construction added 0.3 percentage point to third-quarter economic growth of 2 percent.
    Economists at Barclays Plc said in an e-mail that they raised their tracking estimate of the increase in fourth-quarter gross domestic product to 2.2 percent from 2 percent after today’s report.
    I suspect that the Fed may hold onto their securities until they mature. The average time a mortgage is kept by a borrower is about ten years (that includes loans refinanced as well as those which get paid off). That is what they have been doing with their Treasuries.
    I am Zippy and I approve of this message. But you don't have to.

  21. #20

    Default

    Quote Originally Posted by Brian4Liberty View Post
    And what is the Federal Reserve going to do with all of the mortgages they are buying from JP Sachs with QE-Infinity money?
    They will probably just sell them to foreigners in exchange for amnesty a la Spain: http://hosted.ap.org/dynamic/stories...11-19-12-19-26
    "A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government." George Washington





« Previous Thread | Next Thread »


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •