June Existing Home Sales: -5.4% to 4.37M vs. 4.65M expected, 4.55M prior (revised).


June Existing Home Sales: -5.4% to 4.37M vs. 4.65M expected, 4.55M prior (revised).
Comments (7)
  • jwbrewer
    , contributor
    Comments (317) | Send Message
     
    Hey, where is the real estate boom I have been hearing about? Answer: just because a homebuilder builds it doesn't mean someone will buy it - and the builder gets stuck with the building loan.
    19 Jul 2012, 10:05 AM Reply Like
  • montanamark
    , contributor
    Comments (1455) | Send Message
     
    cnbc housing bottom
    19 Jul 2012, 10:05 AM Reply Like
  • montanamark
    , contributor
    Comments (1455) | Send Message
     
    liesman wont stop interrupting olick - he doesnt like the #s so he will whine
    19 Jul 2012, 10:07 AM Reply Like
  • sr1977
    , contributor
    Comments (365) | Send Message
     
    Yeah, I watched that too.
    He says: "But prices are up, so low supply is a good thing"
    Olick: "Prices are up because there is a lack of 0-$100K homes/foreclosures on the market and thats also why sales #'s are off. Investors buying reo/foreclosures to rent & cash-poor first time buyers have withdrawn from the market, down from 32% to 20-25% of total sales."

     

    In addition to not being in any hurry to rush pre-owned homes that will only bring 50% of their loan value in this market, Banks are also having title issues with about 15% of their foreclosures.
    19 Jul 2012, 11:12 AM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    The real net worth and effective purchasing power of a majority of Americans has been declining steadily and painfully for the past 3 years and it is cheaper and much less risky to rent rather than own a home in 90% of zip codes.

     

    Why buy? How buy even if a family wants to buy?
    19 Jul 2012, 10:30 AM Reply Like
  • David Sims
    , contributor
    Comments (764) | Send Message
     
    Refer to the second picture in this page. http://seekingalpha.co...

     

    Home prices are rising fast.
    19 Jul 2012, 01:35 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    Watching XHB and IYR...will be a prime short at some point
    19 Jul 2012, 04:14 PM Reply Like
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