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New-home sales up surprise 3.5% in Sept.

People are getting in because the consensus is that mortgage rates are going to go back up. Absolutely no shock to me that it happened. Bush didn't start the housing boom, Bush isn't going to finish it.
 
Originally posted by: Darkhawk28
Originally posted by: PingSpike
Americans still want houses....that's Bush's big economic accomplishment?
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Apparently they're claiming it to be.
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The median price for a new home - the midpoint where half the homes sold for more and half for less - dropped to $197,700 in September, down 8.4 percent from the August median price of $215,900.
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Kind of puts many Americans out of the running with median numbers like that. Nice to see that they are dropping though if you are a buyer.
 
housing still seems to be going strong, however im concerned for a few years down the line. if the economy gets stronger, interest rates will be rising. over 50% of new homeowners in california are taking out arms, i'll think they'll be in for a rude awakening when their arm period ends.
 
Considering interest rates are at record lows (30-year fixed at 5.5% for 590 credit score), it's not surprising at all.


And, I heard an article on the news on the way home yesterday that foreclosures are again reaching record highs. This is due to a rise in sub-prime lending. People less than one year out of bankruptcy can get into a home with $0 money down.
 
Originally posted by: lozina
Irrelevent to the economy. House sales have been on a positive trend since before Bush took office.
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And the economy was on the slide well before Bush took office, yet you libs blame him for that.
 
Originally posted by: Crimson
Originally posted by: lozina
Irrelevent to the economy. House sales have been on a positive trend since before Bush took office.
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And the economy was on the slide well before Bush took office, yet you libs blame him for that.
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We went from a gentle slope to an initial drop of a rollercoaster with Bush's incompetence.
 
Originally posted by: conjur
Considering interest rates are at record lows (30-year fixed at 5.5% for 590 credit score), it's not surprising at all.


And, I heard an article on the news on the way home yesterday that foreclosures are again reaching record highs. This is due to a rise in sub-prime lending. People less than one year out of bankruptcy can get into a home with $0 money down.
Click to expand...

Conjur, you'd be the FIRST (right in front of Todd and Dave) to claim a failed Bush economy if New-Home sales were down 3.5.

In Tulsa, OK they are BOOMING with new home building starting in the 200K's and this is without any new industry or major company shift in staffing in the area (to include Oil)... To qualify for a 200K mortgage (with a low interest rate or not) you still have to be able to show that you can make the payments on that home. This shows that there is good money being paid for jobs now. If these folks are having to file for bankruptcy, it's because most of them (read NOT ALL) don't know how to manage their money.
 
Originally posted by: TheGameIs21

In Tulsa, OK they are BOOMING with new home building starting in the 200K's and this is without any new industry or major company shift in staffing in the area (to include Oil)... To qualify for a 200K mortgage (with a low interest rate or not) you still have to be able to show that you can make the payments on that home. This shows that there is good money being paid for jobs now. If these folks are having to file for bankruptcy, it's because most of them (read NOT ALL) don't know how to manage their money.
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"If these folks are having to file for bankruptcy, it's because most of them (read NOT ALL) don't know how to manage their money."

Typical Elitist's drivel, it's always the Americans and their American Dream's fault.

 
Originally posted by: TheGameIs21
Originally posted by: conjur
Considering interest rates are at record lows (30-year fixed at 5.5% for 590 credit score), it's not surprising at all.


And, I heard an article on the news on the way home yesterday that foreclosures are again reaching record highs. This is due to a rise in sub-prime lending. People less than one year out of bankruptcy can get into a home with $0 money down.
Click to expand...

Conjur, you'd be the FIRST (right in front of Todd and Dave) to claim a failed Bush economy if New-Home sales were down 3.5.
Click to expand...
That's where you're wrong. You'll never admit it but you're dead wrong.
 
Originally posted by: dmcowen674
Originally posted by: TheGameIs21

In Tulsa, OK they are BOOMING with new home building starting in the 200K's and this is without any new industry or major company shift in staffing in the area (to include Oil)... To qualify for a 200K mortgage (with a low interest rate or not) you still have to be able to show that you can make the payments on that home. This shows that there is good money being paid for jobs now. If these folks are having to file for bankruptcy, it's because most of them (read NOT ALL) don't know how to manage their money.
Click to expand...

"If these folks are having to file for bankruptcy, it's because most of them (read NOT ALL) don't know how to manage their money."

Typical Elitist's drivel, it's always the Americans and their American Dream's fault.
Click to expand...

Yeah... I'm the All American "elitist"... You know nothing about me. I didn't make a blanket statement and facts will back up my statement that most (not all) don't know how to manage their money.
 
Originally posted by: conjur
Originally posted by: TheGameIs21
Originally posted by: conjur
Considering interest rates are at record lows (30-year fixed at 5.5% for 590 credit score), it's not surprising at all.


And, I heard an article on the news on the way home yesterday that foreclosures are again reaching record highs. This is due to a rise in sub-prime lending. People less than one year out of bankruptcy can get into a home with $0 money down.
Click to expand...

Conjur, you'd be the FIRST (right in front of Todd and Dave) to claim a failed Bush economy if New-Home sales were down 3.5.
Click to expand...
That's where you're wrong. You'll never admit it but you're dead wrong.
Click to expand...

You're right... I'd have to see it to believe it.
 
Originally posted by: TheGameIs21
Originally posted by: conjur
Originally posted by: TheGameIs21
Originally posted by: conjur
Considering interest rates are at record lows (30-year fixed at 5.5% for 590 credit score), it's not surprising at all.


And, I heard an article on the news on the way home yesterday that foreclosures are again reaching record highs. This is due to a rise in sub-prime lending. People less than one year out of bankruptcy can get into a home with $0 money down.
Click to expand...

Conjur, you'd be the FIRST (right in front of Todd and Dave) to claim a failed Bush economy if New-Home sales were down 3.5.
Click to expand...
That's where you're wrong. You'll never admit it but you're dead wrong.
Click to expand...

You're right... I'd have to see it to believe it.
Click to expand...

:beer: I have alot of faith...but I too would have to see it to believe it.

CsG
 
Originally posted by: TheGameIs21

Yeah... I'm the All American "elitist"... You know nothing about me. I didn't make a blanket statement and facts will back up my statement that most (not all) don't know how to manage their money.
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You're rtight, know nothing about you other than making Elitist statements.

OK, by your terminology "most" (not all) Blue Collar Americans are financial idiots.
 
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