Property is the cornerstone of our economy, however Realtors say this is the worst period ever in living memory. Many industries flow from property and we will definitely see a recession in the next year 18 months.
2006-08-23 15:53:37 · 11 answers · asked by Anonymous in Politics & Government ➔ Politics
http://business.timesonline.co.uk/article/0,,16849-2326352,00.html
2006-08-23 16:00:01 · update #1
Voodoo economics. Bush couldn't work a miracle if he was shown how to. The basis of all downturns is the stifling of the property market. Reading some of the comment here shows many do not understand economics.
2006-08-24 23:55:24 · answer #1 · answered by Blessed 1 · 0⤊ 1⤋
Oh yes, it's that pathetic little humanist, "Telling the Lies, Always".
Once again, that pathetic little humanist is either lying or too stupid to understand the source he provides. The very source he(?) cites says that housing sales are down 4.1 percent, or one quarter of his claims, and doesn't mention if it is seasonally adjusted.
Quote from his(?) source:
http://business.timesonline.co.uk/article/0,,16849-2326352,00.html
"The National Association of Realtors reported that sales of existing homes fell by 4.1 per cent in July, to a rate of 6.3 million sales per year, the lowest figure since January 2004 and much worse than expected."
The statement in his source is quite clear, so the proof is convincing that humanist continues to choose to lie.
And if he had any context, the housing market has been overheated for a few years.
This is just a minor correction, in the housing market, and is long overdue.
Bush? NO. If anyone is to blame, it would be the Federal Reserve for raising interest rates at an unprecedented rate. Again that was in the source he(?) cited. Fed is a private organization owned by the member banks.
No. Research and Development have long outpaced the housing market as the cornerstone of the US Economy. The cornerstone of the US economy never was housing, It was agriculture, extractive industries, and manufacturing. Now it is by far and away technology.
I have no idea where he(?) get the notion that realtors say this is the wors period ever in living memory. It is not in the source he(?) cites.
I remember the 1980s, and the housing market was much worse then, because Jimmy Carter had caused so much inflation through his oddball programs and talk of "malaise", the housing market absolutely tanked. Comparatively, this recent slowdown in an overheated marked is simply a blip on the radar.
2006-08-25 01:12:25 · answer #2 · answered by Lewis Y 6 · 0⤊ 0⤋
Don't know where you've been hiding, but the US housing market just finished the largest increase over the last three years. Nobody in the market lost money. However, all good things come to an end. The wave is over and the people who bought high will have to wait a few years for the market to catch up to the inflated prices.
July was the first month in the last 36 that new housing starts was down, following 3 years of record starts. Watch for Home Depot and Lowe's to explode (conversely the last three years haven't been record breakers for them) now that people will be spending money on fixing what they have.
I'm surprised realtors have had anything to say. The ones I know are still counting their money and learning to drive their Hummer 2s.
To cliffpotts2005: when you say "all economic indicators" I assume you are excluding GNI, real estate, the markets, the prime rate, and the unemployment rate. They are all better than 2001.
2006-08-23 23:00:49 · answer #3 · answered by Anonymous · 1⤊ 1⤋
Considering we just came through an incredible burst in housing sales, I'd chalk it up to coming back down to a normal pace.
It also depends on what part of the country your talking about. Here in Phoneix for a year solid we saw house list and sell within hours at interest rates of below 6% for part of that time.
Some things you just can't always blame Bush for. Sorry.
2006-08-23 22:57:48 · answer #4 · answered by mel 4 · 2⤊ 0⤋
I think you may be reading too many gloom and doom headlines. That is why I don't read the paper or watch the news. I pick and choose which news I will read about through the internet. And no....I don't read about Paris, or Tom. I am politically minded and keep up on current events. But I find that reading or listening to every media report only distorts reality.
2006-08-23 23:01:51 · answer #5 · answered by littleflower_57 4 · 0⤊ 0⤋
All economic sectors except reality has been in decline since 2000. Now reality is faltering. It is not a recession you will be seeing. It is going to drill allot deeper then a recession.
As to the person called "Your Mom" such fool will be with us always. Everything is about economy, and "Your Mom" along with many of the conservatives will be finding that out very, very soon.
2006-08-23 22:59:10 · answer #6 · answered by Anonymous · 0⤊ 2⤋
not being a smartass but I am from the MS Gulf Coast and there ain't no houses to sell down here. Was that taken in consideration? Just asking?
2006-08-23 23:02:22 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Eh....if you only had any sense about economy, you would know that the administration has little to do with the real estate market. Same for gas prices! Go back to school!
2006-08-23 22:59:49 · answer #8 · answered by EDDie 5 · 3⤊ 0⤋
what figures are you looking at the housing market has only recently[last 3 months] cooled down a little since the longest sustained boom in history.you are a complete idiot
2006-08-23 22:58:11 · answer #9 · answered by Anonymous · 2⤊ 0⤋
Obvously you dont remember the huge housing boom that happened recently when interest rates were way down?
2006-08-23 23:02:00 · answer #10 · answered by Anonymous · 1⤊ 0⤋