Smalltownbanker

Worst Housing Number in Decades: What Is the Wall Street Media Smoking?

The fact is that the numbers 4 years ago were seriously out of whack with reality of genuine demand. We were building to speculatory demand and not real demand for homes. The articles you quote are looking for positive evidence of a bottom or the beginning of recovery whichever way you want to spin it. Increasing housing starts are an indication of an increase in new loans building specifically for a buyer who has not found what they want in a foreclosure or market resale.

As a mortgage banker for a Community Bank I am speaking with people almost everyday who are preparing to build their own new home. This is positive. Yes we still have a lot of pain to go through but I will not and never will succomb to the idiots who have no perspective on the Great Depression, my parents lived through it, since our situation today is no where close to what they went through.

I am as troubled as anyone by the current and just past administration's handling of this mess but think they are too stupid to get much done in a positive vein anyway. As long as they are fumbling around up in Washington this will be a protracted recession of historical proportions but I see no evidence pointing to depression.