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Title: June Sales of U.S. New Homes Climb More Than Forecast
Source:
BBG
URL Source: http://www.bloomberg.com
Published: Jul 26, 2010
Author: Courtney Schlisserman
Post Date: 2010-07-26 10:52:05 by war
Keywords: None
Views: 12592
Comments: 32
July 26 (Bloomberg) -- Sales of U.S. new homes rose in June more than forecast following an unprecedented collapse the prior month, a signal the worst of the slump triggered by the end of a government tax credit is over. Purchases increased 24 percent from May to an annual pace of 330,000, figures from the Commerce Department showed today in Washington. The rate was the second-lowest in data going back to 1963 after May’s downwardly revised 267,000 pace. The lowest mortgage rates on record may help underpin demand, stabilizing the industry that triggered the worst recession since the 1930s. Even so, increasing foreclosures are swelling the number of unsold existing homes, putting pressure on prices and keeping buyers on the sidelines as unemployment hovers near 10 percent and the economy cools. Sales are “bouncing along the bottom,” said Eric Green, chief market economist at TD Securities Inc. in New York, who forecast an increase to 335,000. “The future is going to be dependent on job growth. There’s no demand because confidence is weak and employment is weak.” Stocks extended prior gains following the report. The Standard & Poor’s 500 Index rose 0.7 percent to 1,110.16 at 10:17 a.m. in New York. The S&P Supercomposite Homebuilder Index climbed 3.1 percent. Exceeds Forecast Economists forecast sales would rise 3.3 percent to an annual pace of 310,000, according to the median of 73 projections in a Bloomberg News survey. Estimates ranged from 260,000 to 360,000. The government had initially estimated May sales at a 300,000 rate and revised down figures for every month since March. The 37 percent plunge in May was the biggest on record. The median price decreased 0.6 percent from June 2009 to $213,400. Purchases increased in three of four regions, led by a 46 percent jump in the Northeast and a 33 [percent surge in the South, the largest area. Demand dropped 6.6 percent in the West to a record low 57,000 pace. The supply of homes at the current sales rate fell to 7.6 months’ worth from 9.6 months in May. There were 210,000 new houses on the market at the end of June, the fewest since 1968. To become eligible for a federal incentive worth up to $8,000, buyers had to sign contracts by April 30 and close deals by the end of last month. The surge in demand prior to the April deadline prompted the government this month to extend the closing deadline until Sept. 30 to ensure buyers had enough time to complete transactions. Exiting Homes Purchases of previously-owned homes, which are tabulated when a contract closes, fell a less-than-forecast 5.1 percent in June, sustained by a backlog of deals waiting to settle, figures from the National Association of Realtors showed last week. New home sales are calculated when a contract is signed. The drop in sales in May came after demand reached an almost two-year high the prior month, according to last month’s Commerce Department data. Builder shares have dropped this year as the housing outlook dimmed. The S&P Supercomposite Homebuilder Index, which includes Toll Brothers Inc. and Lennar Corp., has fallen 5.4 percent from Dec. 31 through July 23, while the S&P 500 Index is down 1.1 percent. With the deadline for signing a contract now past, it will be up to advances in the labor market to support home sales. Private U.S. companies added 83,000 jobs in June, fewer than economists had forecast, and initial jobless claims have averaged 449,700 this month, a sign firings remain elevated. Mounting Foreclosures Another challenge to new home sales is the rising tide of foreclosures. Home seizures jumped 38 percent in the second quarter from a year earlier, RealtyTrac Inc. said last week, putting lenders on pace to claim more than 1 million properties this year. NVR Inc., based in Reston, Virginia, said last week the original June 30 closing deadline to qualify for the tax incentive resulted in a “surge in settlement activity” in the second quarter, with closings jumping 63 percent from the same time a year earlier. New orders fell six percent in the second quarter to 2,559 units. Homebuilders turned more pessimistic this month, with the National Association of Home Builders/Wells Fargo confidence index dropping to 14, the lowest level since April 2009, according to data released last week.
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#1. To: All (#0)
Chuckles...who does that "sound" like?
WORST JUNE IN THE HISTORY OF THE DATA REPORTING. EVEN WORSE THAN THE BAD JUNE OF 2009. WAR ONLY LOOKS AT Month-to-Month, and May of 2010 was the worst on record. It is unpatriotic to spin bad news as good as it lessens the pain felt by Americans who are losing their jobs and their equity. War, Brian S, GO65 and the other cast of idiots are not patriots, but are shills for the DNC. They attempt to obfuscate, misdirect and misquote to support the Democrats while hurting America.
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
Chuckles...who does that "sound" like? I like how you only report the MtM sales and not the year to year. Too bad there is this thing called the "internet" which can bust your sorry ass War in about two minutes.
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
Chuckles...now hold your breath until your face turns blue...
It is unpatriotic to spin bad news as good as it lessens the pain felt by Americans who are losing their jobs and their equity. War, Brian S, GO65 and the other cast of idiots are not patriots, but are shills for the DNC. They attempt to obfuscate, misdirect and misquote to support the Democrats while hurting America. You born yesterday, neb? Want to point out how many jobs, bush43 created? How many Fraudulent No Doc Securitized (something for Nothing/Cox/SEC) 'loans went out? You're like a John Law PR guy, noting that the South Sea/Mississippi Scheme was going great until France started selling it's shares of same.
Want to point out how many jobs, bush43 created? How many Fraudulent No Doc Securitized (something for Nothing/Cox/SEC) 'loans went out? You're like a John Law PR guy, noting that the South Sea/Mississippi Scheme was going great until France started selling it's shares of same. Lay off the stupid pill Jim. I'm not badeye who supports Bush. I despise Bush and his neo-cons. What a moron you look like, again.
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
Hey neb. mind if I call you neb? What's with the use of the familiar when you're tryimg to insult? So how come no bush43 history, neb? Or what's the difference in O's Goldman Advisors. See, neb where truth is replaced by silence, it must be inferred that you're covering. Like source me one of your posts on the Evils of Plutocracy. Waiting. Tick Tock.
Like this: If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it. So if you voted at all, according to your logic, you're damned.
I know this is hard for you to fathom, but BUSH ISN'T PRESIDENT. Obama is continuing much of the idiotic Bush policies. You want to shill for THAT? How fucking hard is that for you to understand, Jim?
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
So if you voted at all, according to your logic, you're damned. Hey re-re (I think you know what that means), While McCain wouldn't have been great, at least we wouldn't be saddled with the HORRIFIC HEALTH-CARE bill. Sorry, both parties are corrupt, you happen to support the more corrupt.
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
And you really don't understand me then. "I'll have a glass of Corexit, on the rocks, for my friend from BP over there" Grin " What is madness, failure and death to countless millions of "ordinary" people is a business plan for the ruling class. For decades and even centuries, it's been a very successful business plan. It all depends on your perspective. As I've regularly noted recently, many of us do love the marketing. But you should seriously consider not discussing it as if it matters. It doesn't. To the extent you treat the marketing as important, you do the ruling class's bidding, and you provide them a gift of inestimable value. Now wouldn't you agree that's very silly? I should think you might at this late date."
Chuckles......thread about obamunists' crappy economy causing home purchases to head sub- terrainian and endless boosh drivel recountings still zing around between your ears. Surprising to most here?....prolly not as you .... are "you". Jim........boosh is not running anything...for many many many hours now......remember hope and change....a new beginning....the mendacity of dope (whatever it was).....all that stuff? Normal USA dwelling earthlings do now and they watch as Summer turns to......NOVEMBER. When will it all end for you Jim??....when the US pulls out of Nam? Chuckles.....
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
HEY!!! It's e. Long time no read, e. Figured out 911 yet? The War of Terror? LMFAO, chuckles. How about those hilarious Planet Killing Corporations. You still getting your checks in the Mail? Good. Helps soothe the conscience, eh? A little Jack Black can make you forget things for a while. 8D
So....actually have a breather from projects and did NOT bring home the work laptop tonight:) 911.....near as I saw fascist satanic mostards flew jets into buildings etc.....the pictures do help to understand all that needs to be understood. I'm yer huckleberry on the "WOT" and mil indust complex stuff and I don't mind regurgitating what my beliefs from LP musings you may have missed a while ago when your antennae were likely planted over on some Area 51 dusty road and directed toward the scintillating white noise that SETI monitors:) Nutshell: the US has allies we should protect .... when .... they need it. That is not every fricken hour of the past 75 years. We need 3 mil intel liasons in Japan, Korea, Germany, Italy, GB, Brazil, Isreal, Zaire, Finland, Australia, Trinidad and Tobago, India, Greece, Greenland and California etc... just so we can keep a presence somewhat near any perceived threats. Everything else can be handled via technology. That'd save a pretty penny I bet. We have the capacity for instance to deliver CBG's to any area very quickly. Japan will not be overun by commies such that we need whatever thousand number we leave perpetually stationed on their islands. Japan seems to have a few cents lying around from their economy and normal thought might lead one to conclude they should be looking out for themselves anyway rather than counting on the welfare handouts of the USA in protecting them.....add in any of the other 95 wealthy other countries the USA provides this welfare benefit to. US imperialism should be dustbinned......really it's not even able to be classified as imperialism in the "classic" sense in that we have a real neat history lately of interfering, setting up some temporary "fix" that costs zillions of $$ and priceless soldiers lives.....then we walk away (unlike the USSR imperialists or the modern Chinese imperialists) and the weeds come back. And the beat goes on. Because money can be made blowing up stuff...and new exploding "stuff" can be dreamed up as well..... Today the only threat on this earth comes from "fundamentalist" imperialistic mostards. I think only the exception being FARC or some such other pissant commie rabblerousers in South America. Likely blowhards like the NK's Navy would run out of fuel 5km from port if they tried to send out the entire fleet of 12 frigates....let those gnats stew and fume away in their quest for CNN airtime. Everywhere else it is fascist mostards stirring the stink. They have no reason to stop since we never iteratively go after the instigators until they are literally "gone" The drone mostard is more than likely a lower echelon tool used by various leaders who have never and will never caressed a vest bomb nor gotten their hands oiled field stripping a Kalashnikov. They are simple sub level lemmings......like some of the resident LP dimtards on this very site......Their intellometers wouldn't rise to ticketable level on any US highway.....but they are the willing fodder in hopes they can cash in on some fine 72 sets of pristine sparking de-burquaed moslem mamasan with previously tightly wound legs. So...since these "leaders" are about the wholly megalomaniacal pursuit of subjugating everyone under the rule of their idol.....and they will NOT stop willingly or via "nuanced dialog" or "presidential" acts of proning and slobbering....how does this attempted march to oblivion end? By having troops in Germany or Peru? Seeking another effective (LOL!!!) UN sanction?? Setting up meetings on Gatherplace to "understand" one another? No. By reverting to what will work. Guarandamnteed. A great start would be commissioning the finest kill squads we can muster and freeing them up to go waste every.....every....family member 2 levels deep of every known fascist mostard intelligentsia member. And when the next crew stupidly and arrogantly takes up the "martyr's" role waste that crew. That'll happen maybe 4 iterations before they get the picture that the violence they push will likely come through their front door......and they all love their kids as much as anyone....and their moms and sisters etc.... You'll see the mostard nazi lockstepping intelligentsia gittin outta Dodge right quick....heading right back into the "safe" power realm making money in setting up and running companies, banks, education etc....maybe even some wandering over here to bulk up the Ex-Senator Harry Reid's dimtard political machine:) Even that beats finding loser ditz bitches in black mailbox eye-slot clothes blowing up marketplaces and planting car bombs. We should have far less moral compunction toward wasting the families of the sources of so much misery in this modern world than we do in sending David Smith or Cathy Jones to go die in some sandbox hell over and over and over and over and over "fighting" the WOT when at the cost of a few hundred or maybe thousand infinitely less valuable lives of people who are filled with hate for anyone "not like them" and who instill that hatred and fund the efforts toward attacking non-mostard people just because they are non islamonazi-mostards. Should we start in Iran??.....chuckles.....something will start in Iran my friend.......you know it as well as I. Because the Iran clowns want it to happen and they really have been the largest threat. An extremely well educated populace under authoritarian dictatorship that revels in public executions of dissenters.......hmmmmmmm......when else might that scenario have caused a threat to the world as a whole.......hmmmmm.... We can save zillions of ours and the normal moslem Iranians lives not to mention a few bucks by heading the problem off and scaring the bejeesus put of all the other mostard hacks in shitholes like France and Malaysia? Untenable eh?......ask Mohamar Kaddafi how he liked having his living room and his daughter rearranged? Alas Jim all you likely will do is naysay......no solution rattling around in your head. anyway....it's really all moot......nothing will change and lives and money will be lost same as it ever was....same as it ever was.....same as it evvvvverrrrr was.....but since you asked I though I'd vent my dream/vanity:)
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
Mcclown, I'm still interested in your estimate of the time of commencement of the evacuations of millions from the GOM. Then the millions that are predicted to die. Then "peak oil", hows that working out for you?
Alas Jim all you likely will do is naysay......no solution rattling around in your head. Again, you and yours can explain how you can use my familiar as you cuss me and hide behind your pseudo. Now that would be good. Or are you afraid of the state finding you, e? Don't worry. The State would give you a check except they're getting your support for free. Why bother, eh, e? Mind if I call you, e? And so the jews that were flown out of JFK the Evening of 9/11. Against ALL Protocol. Got anything to say about that, e? Of course not cause it doesn't fit into your scenario. Coke and Heroin running by Atta at Venice Fl? No way, eh, e? WTC 7 fell why? BBC reports WTC 7 falling even as they show WTC7 is still up? LMFAO Once you've convinced yourself that a 757 can fit into a 16 foot diameter hole, wings and all, the Emperor's Clothes are no stretch whatsoever. Notice the weave of the cloth. LMFAO. It's over. your children will curse you.
Oh and I DO have a SOLUTION, but you and yours keep refusing to see it. Or you obfuscate. Take my comments out of context, set up straw men, knock then down and say you've won the debate. America disintegrates. The US EMpire ends. We spend the next 70 years bringing down the human pop to 800 million. Another 150 years the Planet heals itself. But you really don't care about anything outside your condo and bank acct now do you, e?
Yeah that's it Jim.....though I have a part time psuedo state gov't gig I'm worried about them coming for me. I cuss you?....maybe before but I doubt it......you humor me:) What's this fixation on names? I'm a mixed nut and you know how "we" are right? Whose to say my parents didn't name me Darieljag? You can call me that if you like. Jews flown out of JFK?.....well of course you know that as the passenger manifests have a big JEW box checked right under the HINDU passenger list. Probabvly a few jews flew out of the WTC though.....that I'll give you as I too saw them on the elevator free descent. 757 fuselage diameter Jim.....um...maybe a link to airliners.net would help on that for you laymen. You know what I do for my day job Jim? Ever notice the scientific / physics trashings AGAviator and I gave to you kooks over on LP?...maybe not. You as wacky as you are really are not that interesting to me wrt the WTC situation as you have shown with your space oddity posting style. But otherwise you are a hoot:):) I don't quite know what to make of you but noway are you as obnoxious as the obamunist freaks on the site and the haiku is hilarious...even if you don't mean it that way.... I'll surmise maybe a lightening strike was somewhere in your past history:):) Sincerely your bud, Darieljag
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
LOL! "Darieljag"? Is that Minoan? I always had you pegged you for a Minoan! Because you're so shy and retiring, now if you'd just learn to say what you really mean without dancing around it! But I understand that it's a Minoan cultural thang, so I'l go now Darieljag.
Quoted by PDS insane assholes every where.
Another 150 years the Planet heals itself. Snicker.....Math not your forte' eh? But yes....anyone can see where disintegrating the 3.8billion Americans will get your numbers down there. I admit my idea is not fully popular but honestly......who or what can take you with a modicum of seriousness Jim? You really need to be "studied" while confined within some single windowed room. Do you tweak Jim? Smoke Super Kools? Like the tar? Your concerned observer, Darieljag
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
:) Ivory Coastian. Forgot to preselect the wacky parent.
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
I fished briefly with a guy from western Africa back in the day. He was a hell of a good worker and guy and had some really amazing stories. He also had the kewlest name I've ever heard. His name was "Killer No Fear". Of course we just called him "Killer". No chit. ;^)
Quoted by PDS insane assholes every where.
Btw; it's a FACT that we can pick our friends, but we're "stuck" with our families. ;^)
Quoted by PDS insane assholes every where.
Chuckles Dog:):) I'd a had his parents I might have ended up with.......Deth T Everbody....:):) And they'd be outta my way for sure.
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
Another 150 years the Planet heals itself. Snicker.....Math not your forte' eh? My Math's good enough, yoyo. ;} Comprehending not yours? guffaw. ;}
+And of course ANYONE using my fsmiliar while cussing me gets nothing but derision. And well deserved. Like you've got some kind of Inside track on my personality? You can't because you have ZERO empathy. What's more you think the same empathy is weakness. And now we have Mark Kaufman, EPA whistleblower being interviewed on July 20th by Amy Goodman on Democracy Now and saying "...we have dolphins that are hemorrhaging. People who work near it are hemorrhaging internally. And that's what dispersants are supposed to do... many lawmakers and advocacy groups say the Obama administration is not being candid about the lethal effects of dispersants," The Gulf dies, the Coast collapses. A Cat 3/5 throws the Toxic Ecocide 50 miles inland. Who ev er hasn't fled already or is dead, moves inland. The US EMpire collapses, as the Imperial City marshalls resources to contain the Evac. Then the Imperial City itself. USEPA- 'we can't seem to find any unsafe levels here.'
Paul Craig Roberts- Large-scale food and other production broke down as local militias taxed distribution as goods moved across local territories. Washington seized domestic oil production and refineries, but much of the government’s gasoline was paid for safe passage across clan territories. Most of the troops in Washington’s overseas bases were abandoned. As their resource stocks were drawn down, the abandoned soldiers were forced into alliances with those with whom they had been fighting. Washington found it increasingly difficult to maintain itself. As it lost control over the country, Washington was less able to secure supplies from abroad as tribute from those Washington threatened with nuclear attack. Gradually other nuclear powers realized that the only target in America was Washington. The more astute saw the writing on the wall and slipped away from the former capital city. When Rome began her empire, Rome’s currency consisted of gold and silver coinage. Rome was well organized with efficient institutions and the ability to supply troops in the field so that campaigns could continue indefinitely, a monopoly in the world of Rome’s time. When hubris sent America in pursuit of overseas empire, the venture coincided with the offshoring of American manufacturing, industrial, and professional service jobs and the corresponding erosion of the government’s tax base, with the advent of massive budget and trade deficits, with the erosion of the fiat paper currency’s value, and with America’s dependence on foreign creditors and puppet rulers. The Roman Empire lasted for centuries. The American one collapsed overnight.
Oh I do Jim....I do:) I may lack empathy but I have coins in my cigarbox. And I have a pee bucket in my garage.
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
LOL! "Kewl!" That's got quite a ring to it! "If you don't like the way I'm driving get off of the sidewalk!"
Quoted by PDS insane assholes every where.
Oh I do Jim....I do:) You have to hide behind a pseudonym and yet you think you've got a handle on me? BWAHAHAHAHAHAHA 8D Zero Empathy. You think Empathy's a weakness. Keep trusting the corporations. ;} Standing naked in the wilderness.
Ok....ok.... I "get it" you don't like me hiding behind a pseudonym. The names's Bond. James Bond. OK???? And don't blab it all over the place!!!!
Death to everybody who does not get outta my way. Below is positively the most hilariously BS overflowing comment from the resident obamunist spent-condom EVER:) "This is WHY I left the GOP in the mid 90's. ." Dwarf
BWHAHAHAHAHAHA In hiding, Bond? In between gigs? The World is Not Enough. I knew you were working for bp. And that green/white orwellian building you work out of is hideous, btw. ;}
Sales are “bouncing along the bottom,” said Eric Green, chief market economist at TD Securities Inc. in New York
#2. To: war (#0)
#3. To: war (#1)
Sales are “bouncing along the bottom,” said Eric Green, chief market economist at TD Securities Inc. in New York
#4. To: Nebuchadnezzar (#2)
#5. To: Nebuchadnezzar (#2)
#6. To: mcgowanjm (#5)
You born yesterday, neb?
#7. To: Nebuchadnezzar (#6)
Lay off the stupid pill Jim.
#8. To: Nebuchadnezzar (#6)
I despise Bush and his neo-cons.
#9. To: mcgowanjm (#7)
So how come no bush43 history, neb?
#10. To: mcgowanjm (#8)
If you voted for Obama in 2008, you're too blame for this rotten mess we're now in. You broke it, you own it.
#11. To: Nebuchadnezzar (#10)
Sorry, both parties are corrupt, you happen to support the more corrupt.
#12. To: mcgowanjm (#5)
Want to point out how many jobs, bush43 created?
#13. To: e_type_jag (#12)
(Edited)
#14. To: mcgowanjm (#13)
(Edited)
Figured out 911 yet? The War of Terror?
#15. To: mcgowanjm, e_type_jag (#13)
LMFAO, chuckles.
#16. To: e_type_jag (#14)
911.....near as I saw fascist satanic mostards flew jets into buildings etc.....the pictures do help to understand all that needs to be understood
#17. To: e_type_jag (#14)
#18. To: mcgowanjm (#16)
(Edited)
Again, you and yours can explain how you can use my familiar as you cuss me and hide behind your pseudo. Now that would be good. Or are you afraid of the state finding you, e?
#19. To: e_type_jag (#18)
#20. To: mcgowanjm (#17)
America disintegrates. The US EMpire ends. We spend the next 70 years bringing down the human pop to 800 million.
#21. To: Mad Dog (#19)
"Darieljag"?
#22. To: e_type_jag (#21)
#23. To: e_type_jag (#21)
#24. To: Mad Dog (#22)
Killer No Fear
#25. To: e_type_jag (#20)
America disintegrates. The US EMpire ends. We spend the next 70 years bringing down the human pop to 800 million.
#26. To: e_type_jag (#18)
#27. To: All (#26)
#28. To: mcgowanjm (#26)
Like you've got some kind of Inside track on my personality?
#29. To: e_type_jag (#24)
Deth T Everbody
#30. To: e_type_jag (#28)
#31. To: mcgowanjm (#30)
You have to hide behind a pseudonym
#32. To: e_type_jag (#31)
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