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Economy
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Title: Minnesota home sales drop 40 percent in July
Source: St. Paul Business Journal
URL Source: http://www.bizjournals.com/twinciti ... tml?surround=lfn#ixzz0xFyPxGEX
Published: Aug 23, 2010
Author: Jim Hammerand
Post Date: 2010-08-23 10:15:53 by Nebuchadnezzar
Keywords: None
Views: 4549
Comments: 7

Minnesota home sales drop 40 percent in July Minneapolis / St. Paul Business Journal - by Jim Hammerand Staff writer

Minnesota home sales dropped 40 percent in July, the Minnesota Association of Realtors said on Friday.

MAR President Michael Hoffman said homeowners trying to sell face a "difficult marketplace," but said the decline wasn't surprising given the expiration of the federal homebuyer tax credit.

"Although disappointing, it was expected that following the expiration of the federal tax credit, sales activity would slow for a few months,” he said.

Year-to-date figures are still even with last year, the group said, and the statewide median home price increased 2.3 percent from last year to $153,500.

The median price increased 3.4 percent in the seven-county metro area. Median price growth ranged between 11 percent and 17 percent in the Arrowhead, North Center, Northwest and West Central regions, and grew 36.6 percent in the Headwaters region.

MAR expects more volatility in the months to come and said a lasting recovery depends on improved employment trends and low interest rates.

Read more: Minnesota home sales drop 40 percent in July - Minneapolis / St. Paul Business Journal

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#1. To: Nebuchadnezzar (#0)

Moronic ending that credit.

war  posted on  2010-08-23   11:10:35 ET  Reply   Trace   Private Reply  


#2. To: war (#1)

Moronic ending that credit.

WHy stop at $8K? Why not make it $100K?

Stupid to have resorted to bribing people to do something they obviously don't wan to do in the first place.

Being a Democratic shill means you check your humanity at the door.

Nebuchadnezzar  posted on  2010-08-23   13:05:28 ET  Reply   Trace   Private Reply  


#3. To: Nebuchadnezzar (#2) (Edited)

WHy stop at $8K?

It was most likely originally a formulaic determination based upon income levels of first time home buyers.

Time and time again, targeted tax credits and cuts have proven more effective in gnerating economic activity.

I wouldn't expect you to know that if only because you're stupid.

war  posted on  2010-08-23   13:36:57 ET  Reply   Trace   Private Reply  


#4. To: war (#3)

And nosy...

"Lets [sic] rent a room." ~ Jethro Tull to Rotara

Fred Mertz  posted on  2010-08-23   14:11:30 ET  Reply   Trace   Private Reply  


#5. To: war (#3)

I wouldn't expect you to know that if only because you're stupid.

Ha! There you go again with the name calling.

Man you must be very frustrated.

Being a Democratic shill means you check your humanity at the door.

Nebuchadnezzar  posted on  2010-08-23   15:39:29 ET  Reply   Trace   Private Reply  


#6. To: Nebuchadnezzar (#5)

Ha! There you go again with the name calling.

Man you must be very frustrated.

It's not name calling if it's an accurate assessment.

"See in my line of work, you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." --- George W. Bush (Rochester NY, 5-24-2005)

mininggold  posted on  2010-08-23   15:43:12 ET  Reply   Trace   Private Reply  


#7. To: Nebuchadnezzar (#5) (Edited)

There you go again with the name calling.

"Hey Dickweed!!!" is name calling.

"You're stupid" is an assessment.

war  posted on  2010-08-23   15:50:17 ET  Reply   Trace   Private Reply  


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