Hey Mister

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    • Homebuilding on an Uptrend? [view article]
      At the end of March 2008 a couple of articles written by Marek Fuchs of TheStree.com pointed out "the dangers of trusting trade association data" the source of which is the National Association of Realtors (NAR) report of existing home sales from January to February. The fact Marek uncovered, was "the past four years February sales were greater than January sales" and the latest increase of just 2.8% certainly is much weaker and doesn't suggest anything close to an uptrend.

      March 18, 2008 marked the sixth consecutive rate reduction by the Fed; the action slashed its fed funds target rate by 3 percentage points to 2.25% since September. In your list of significant developments, item #1, you make reference to the Fed Fund Rate of 3% and that is almost 3 weeks earlier than the current rate, which makes you late to the party.

      I have been looking at homes currently on the market and whether the home is a resale, short sale or bank owned, the firm asking price is no bargain. The money necessary to clean, make repairs and replace items, made those homes I viewed more costly than a new home of the same model.....so much for your item #5 description "perceived lucrative buying opportunities."

      It seems apparent to me that it's business as usual: dupe consumers by distorting, eliminating and lying about the facts to fabricate the existence of an improved and attractive market.

      I agree with Mr Mortgage; "You are dead wrong" and you need to paint another picture.       Apr 03 06:15 AM
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