December home sales slump to close out worst year since 1995
December home sales were 6.2% lower than in the same month a year earlier.
More Staggering bidenomics
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Stolen_Valor_4_a_Day is worthless. My worthless responses are perfect for his HORT diarrhea. I'll miss him when he's gone.
He'll just come back as some
I don’t think December is known as a great month for housing sales…
You guys don’t buy your girlfriend’s summer homes in Europe for Christmas? Friggin’ poors.
So comparing it to the previous December's numbers isn't valid? I don't care either way, but if something is normally low, and this year is 6.2% worse than the previous low number, that isn't newsworthy? It's not like they said home sales this December were 6% lower than June's.
Not many, but if you've ever closed on a house, it can take a month or two sometimes. The story is not with details of if it was offers or closings.
I am in the industry (supporting buyers and sellers - but not a RE Agent) and this mess is beyond serious. In many ways, the economy goes as housing goes, so I am praying we climb out of this mess, but I am not hopfull at all. UGH...December home sales slump to close out worst year since 1995
December home sales were 6.2% lower than in the same month a year earlier.www.cnbc.com
For the bidentards who can’t read:
“Full-year home sales for 2023 came in at 4.09 million units, the lowest tally since 1995.”
“Full-year home sales for 2023 came in at 4.09 million units, the lowest tally since 1995.”
Housing is going to be one of the “hit leaders” when rates increase. That is as predictable as sun rises and sun sets. Housing is also a main driver of the American economy..And “slowing it down” (home sales) is pretty good therapy if you want to slow down inflation. Probably better target than a
One that will effect employment numbers and can be easily juiced by adjusting interest rates. Hardly, right now a “sky is falling” Crisis. You will have to admit, this Administration has done a pretty solid job in managing this post-Covid economy and minimalist it’s negative effects on our economy as compared to most others.
One that will effect employment numbers and can be easily juiced by adjusting interest rates. Hardly, right now a “sky is falling” Crisis. You will have to admit, this Administration has done a pretty solid job in managing this post-Covid economy and minimalist it’s negative effects on our economy as compared to most others.
It's December compared to the previous December.
Full-year home sales for 2023 came in at 4.09 million units, the lowest tally since 1995.
Is this necessarily a bad thing, Here?
Why? It’s the nature of capitalism...when things get too expensive or over supplied, prices decline and sales slow down ( in the former)...natural flow of economics. Houses are too expensive right now. They need to find their level.
The housing market has been shit for 3 years. It isn't that houses are too expensive, borrowing money is too expensive. The other side of this is many people involved in the buying and selling of homes are now losing their jobs because we don't need ( example mortgage lenders or UW) if no one is buying.
Stop thinking logically... we think with our hearts not our heads around here.
Full-year home sales for 2023 came in at 4.09 million units, the lowest tally since 1995.
December home sales slump to close out worst year since 1995
December home sales were 6.2% lower than in the same month a year earlier.
So if it's Bidens fault that home sales are down, I assume you'll post soon giving him credit for the stock market highs and other positive economic numbers?
Money is not “too expensive’ now, it was way too damn cheap for about 15 years, following the housing/mortgage insurance crash of ‘07-08. Obama should have allowed rated to rise in his second term as the economy was in an obvious recovery from “the crash” but he failed to let this occur as he wanted a strong economy for the 2016 election to keep Dems/Hilary in power/WH. Then when Trump won, he used the bully-pulpit of the WH to keep the Fed in line (low rates) and them fueled the inflation with his tax cuts...things we’re “ok” until Covid hit and the resultant supply chain interruptions...This economy can handle 6-8% money comfortably...Money has to have value ( interest rates)...otherwise we can just use rocks and golf tees for currency. When the bank called me and offered me to refinance my mortgage at 3% in about 2009), I understood two things...we had good credit and we couldn’t say No! But money has to have a value to have any worth.
Until then, lets cheer on Biden and the excellent job he is doing in helping the markets make record highs.
We can also celebrate the employment numbers that have consistently beat expectations.
Gas prices are coming way down too. So much good economic news to offset the bad.
Lets go Brandon, right OP?
For 4 years we listened the rally during the Trump Administration was carryover from 0boma, but this rally is all on jo?? Also, when adjusted for inflation, specifically which indexes have made new all time highs??
So high rates are good? lol How about massive debt? Good too? How about high rates and massive consumer debt? High rates + insanely high credit card debt [see CC rates today] = Fred and Sally buying that first or move up home?? 🤡 It's really this simple > https://www.usdebtclock.org/ < That and the left doesn't want ownership...ownership bad......ownership = privilege......
There's a federal reserve factor you are forgetting. That federal reserve factor is a result of bad fiscal policy.
Yep. I think I mentioned a couple of the “bad fiscal” policies the Fed has to work with. Both parties make’m.
But, obviously that is not something you want to admit. But current rates are higher than what you are used to….the best times in my life were the Clinton years, and money was more expensive then than it is now.
Translation = must deflect from the failed Bidenomics at all costs.
Let me guess, you don't see any problems at the border either?
Comparison Trump 4 years to Biden 3 years. Source - US government.
CPI overall - Biden +17% Trump +6%
CPI Avg Growth During Presidency - Biden +7.4% Trump +1.9%
Groceries 1st 30 months - Biden +20% Trump +2%
Gasoline January 2024 - Biden $3.87 January 2021 Trump $2.39
Obviously these are cherry picked numbers, and I didn't pick them myself. Biden is taking credit for job created that are dubious of the COVID rebound.
I'm sure that all the rich folks here aren't feeling the pain of inflation or housing. I've been feeling sorry for my 27 year old son lately. He's got a very good education and job, and wants to buy a house. The housing market is insane, along with mortgage rates compared to the last 13 - 14 years.
CPI overall - Biden +17% Trump +6%
CPI Avg Growth During Presidency - Biden +7.4% Trump +1.9%
Groceries 1st 30 months - Biden +20% Trump +2%
Gasoline January 2024 - Biden $3.87 January 2021 Trump $2.39
Obviously these are cherry picked numbers, and I didn't pick them myself. Biden is taking credit for job created that are dubious of the COVID rebound.
I'm sure that all the rich folks here aren't feeling the pain of inflation or housing. I've been feeling sorry for my 27 year old son lately. He's got a very good education and job, and wants to buy a house. The housing market is insane, along with mortgage rates compared to the last 13 - 14 years.
People going back to their old jobs after the Covid shutdown is definitely not job creation but Biden is insane so he doesn't really understand much of anything other than pudding or jello time.
You and he honestly thought 4% money was the norm? That’s on you and him. 6-8% money is the historical norm. A series of unique circumstances over the past 15 years gave us cheap fiat money. Houses are expensive but that cost certainly is not primarily this administration’s fault. High costs of housing lies with costs of materials, land and labor for the most part. Not the president of the United States.
I bought my first house 40 years ago, and have owned 4 others since then. I'm familiar with interest rates over that time period. I'm not sure where I said 4% was the norm. Wait.... I didn't.
Biden and Congressional Democrats have the biggest responsibility for current consumer inflation, which definitely plays a role in housing costs. The price of petroleum affects everything, whether you want to believe it or not.
