Random Comments (RH)

[Bo D]

I think you had better talk to come realtors about that housing recovery.

I did .....

According to the National Association of REALTORS®, Existing Home Sales rose to 4.47 million units in July on a seasonally-adjusted, annualized basis.

The Existing Home Sales also reported the folliowing :

    First-time buyers accounted for 34% of all purchasers, down from 34% in June
    Real estate investors accounted for 16% of all purchasers, down from 19% in June
    Cash buyers accounted for 27% of all purchasers, down from 29% in June

In addition, the real estate trade group reports that distressed sales accounted for a smaller percentage of the overall home resale market in July. Just 24% of home resales were for homes in various forms of foreclosure or short sale.

This is down one percent from June, and five percent from July 2011.

Lastly, nationwide, the supply of homes for sale dropped to 6.5 months. At the current pace of sales, therefore, the complete U.S. home resale inventory would be sold by the end of Q1 2013.

http://selling2arizona.com/existing-home-sales-rise-to-4-47-million/

[me]

Dream on

[Bo D]

Dream on

How can you tell if someone is a pathological liar?

They "construct" a reality around themselves. They don't value the truth, especially if they don't see it as hurting anyone. If you call them on a lie and they are backed into a corner, they will act very defensively and say ugly things (most likely but depends on personality), but they may eventually start to act like, "Well, what's the difference? You're making a big deal out of nothing!" (again, to refocus the conversation to your wrongdoing instead of theirs).

[me]

Lawler: On the relationship between pending home sales and closed sales
8/30/2012 6:55:00 PM
Read Full Article: http://feedproxy.google.com/~r/CalculatedRisk/~3/Cj34BurRX1Q/lawler-on-relationship-between-pending.html
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Yesterday the National Association of Realtors reported that its "National" Pending Home Sales Index increased by 2.4% on a seasonally adjusted basis in July to its highest level since April 2010.

The NAR's PHSI did not signal the "dip" in June/July closed existing home sales, for reasons that are difficult to discern. It's not easy to figure out "fallout" rates from the PHSI for several reasons: first, the PHSI is an index number with 2001 "activity" equal to 100, making numerical comparisons to the NAR's existing home sales estimate difficult, especially since there is a "discontinuity" in the NAR's existing home sales methodology in 2007; and second, the NAR's PHSI is based on a sample size not much more than half that used to estimate existing home sales. To really delve into the relationship between pending sales and closed sales, one needs to get local data—which unfortunately isn't available to the public in that many places.

Closed and Pending Home Sales Click on graph for larger image.

CR Note: This graph from Tom Lawler shows Pending and Closed home sales since January 2008. For this graph, Tom Lawler set both series to 100 in 2008.

More from Lawler: For fun, however, I looked at pending sales vs. closed sales data reported by MRIS for the mid-Atlantic region. While I have limited historical data, that data suggests that (1) contract fallout over the past two and a half years is up considerably from earlier periods; and (2) that increased fallout coincided with a significant increase in the share of pending sales that were "contingent. Other MRIS data/analyses suggests that a rise in the share of pending contracts that are short-sales, which (1) take much longer time to close; and (2) which have very high contract fall-out rates, has significantly impacted the relationship between pending sales and closed sales.

MRIS Closed and Pending Home SalesHere is a chart showing closed home sales by MRIS for the mid-Atlantic region compared to lagged new pending contracts, using a weighting of 60% for the previous month and 40% for two months earlier.

This chart suggests that over the last two years the number of closed home sales has been significantly lower than one would have expected based on the past relationship between past new pending sales and closed sales. While not shown here, a more "sophisticated" look at leads and lags suggests that the reason is not simply delayed closings, but is mainly contract fallout.

CR Note: It appears short sales are distorting the relationship between pending and closed sales, and the "pending home sales" report should currently be taken with an extra grain of salt.

Read more: http://thestockmarketwatch.com/news/news.aspx?articleid=557647#.UEd2GCIxhXi#ixzz25byB7KsI

[Bo D]

Read more: http://thestockmarketwatch.com/news/news.aspx?articleid=557647#.UEd2GCIxhXi#ixzz25byB7KsI

Oh for goodness sakes! I think we all know the difference between "pending" and "closed."

But, my, my! Would you look at that. Those charts also show a big jump in closed deals.

Homes Selling More Quickly, Time on Market Down with Tighter Supplies

http://www.realtor.org/news-releases/2012/08/existing-home-sales-improve-in-july-prices-continue-to-rise

[me]

Oh for goodness sakes! I think we all know the difference between "pending" and "closed."

But, my, my! Would you look at that. Those charts also show a big jump in closed deals.

Homes Selling More Quickly, Time on Market Down with Tighter Supplies

http://www.realtor.org/news-releases/2012/08/existing-home-sales-improve-in-july-prices-continue-to-rise

Now go look at the charts in what I posted and read it.

[Bo D]

Now go look at the charts in what I posted and read it.

I did. Now you read my links.

No ... wait ... I forgot ... you do better with pictures ....

This is from your article. Look at the huge jump in CLOSED sales in the past two years.

[Bo D]

Now that that is settled ...

What say you to the other points? ....

At least now we are not losing 750,000 jobs per month as we were four years ago.

Four years ago the Dow was at 6,000; now it's at 13,000+.

[Locutus]

Four years ago the Dow was at 6,000; now it's at 13,000+.

Remember, pictures are better.   

[Bo D]

Remember, pictures are better.   

[Henry Hawk]

I interrupt this post for the following announcement...

The way I clearly see it is that the Bush years was doing fine until January 3rd, 2007, the day the Democrats took over the Senate and the Congress.....at that time the DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6%...

Then, Barney Frank and Chris Dodd took over the House Financial Services Committee, (at Nancy and Harry's leadership) and allowed the housing market to CRASH, with their lame and ignorant policies....that BUSH should have vetoed, even though HE warned congress that Fannie and Freddie are being finanially irresponsible.

Also, we must remember that our budgets do not come from the White House. They come from Congress, and the party that very party that controlled Congress since January 2007, THE Democrats...Thank God the republicans DID learn the word NO!  Or we may very well be in a much, much worse mess than we are now.

How any normal, logical thinking person cannot see this, is beyond me.  Many people are very good at throwing smoke bombs and not looking at simple truths.  I know the attacks will begin very soon now...but again, that is just the way I very, very clearly see it.  We need NEW, HONEST leadership and we need it very soon.

back to your regular scheduled postings...

[Bo D]

I interrupt this post for the following announcement...

The way I clearly see it is that the Bush years was doing fine until January 3rd, 2007, the day the Democrats took over the Senate and the Congress.....at that time the DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6%...

Then, Barney Frank and Chris Dodd took over the House Financial Services Committee, (at Nancy and Harry's leadership) and allowed the housing market to CRASH, with their lame and ignorant policies....that BUSH should have vetoed, even though HE warned congress that Fannie and Freddie are being finanially irresponsible.

Also, we must remember that our budgets do not come from the White House. They come from Congress, and the party that very party that controlled Congress since January 2007, THE Democrats...Thank God the republicans DID learn the word NO!  Or we may very well be in a much, much worse mess than we are now.

How any normal, logical thinking person cannot see this, is beyond me.  Many people are very good at throwing smoke bombs and not looking at simple truths.  I know the attacks will begin very soon now...but again, that is just the way I very, very clearly see it.  We need NEW, HONEST leadership and we need it very soon.

back to your regular scheduled postings...

The question was "Are we better off than we were four years ago?".

But .... since YOU brought up Bush ....

AVERAGE NUMBER OF JOBS CREATED PER MONTH BY THE BUSH ADMINISTRATION: 20,000

AVERAGE NUMBER OF JOBS CREATED PER MONTH BY THE BUSH ADMINISTRATION EXCLUDING THE DISASTROUS LAST YEAR: 65,000

NUMBER OF MONTHS IN THE BUSH ADMINISTRATION IN WHICH THERE WERE 500,000 OR MORE JOBS CREATED: 0.

[me]

I interrupt this post for the following announcement...

The way I clearly see it is that the Bush years was doing fine until January 3rd, 2007, the day the Democrats took over the Senate and the Congress.....at that time the DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6%...

Then, Barney Frank and Chris Dodd took over the House Financial Services Committee, (at Nancy and Harry's leadership) and allowed the housing market to CRASH, with their lame and ignorant policies....that BUSH should have vetoed, even though HE warned congress that Fannie and Freddie are being finanially irresponsible.

Also, we must remember that our budgets do not come from the White House. They come from Congress, and the party that very party that controlled Congress since January 2007, THE Democrats...Thank God the republicans DID learn the word NO!  Or we may very well be in a much, much worse mess than we are now.

How any normal, logical thinking person cannot see this, is beyond me.  Many people are very good at throwing smoke bombs and not looking at simple truths.  I know the attacks will begin very soon now...but again, that is just the way I very, very clearly see it.  We need NEW, HONEST leadership and we need it very soon.

back to your regular scheduled postings...

Your two key words are "normal" and "logical" HH.  Our problem is we're not impressed or dazzled by graphs and charts because they can reflect anything the person doing them wants to reflect by juggling figures here and there.  They, on the other hand, are impressed and dazzled and more easily fooled.  The more charts and big words the person who wants to make a point use the more impressed they are, common sense and logic gets pushed aside and they forget to look at the real world and the big picture.   

[Exterminator]

LMAO!  You can't fucking be serious.   

[The Troll]

Your two key words are "normal" and "logical" HH.  Our problem is we're not impressed or dazzled by graphs and charts because they can reflect anything the person doing them wants to reflect by juggling figures here and there.  They, on the other hand, are impressed and dazzled and more easily fooled.  The more charts and big words the person who wants to make a point use the more impressed they are, common sense and logic gets pushed aside and they forget to look at the real world and the big picture.

  your problem is you're not impressed of dazzled by graphs or charts.  And you are not impressed and can not stop telling untruths, telling lies and distorting the facts or truth.   

  Plus you have got the best liar in the Republican Party.  Paul Lying Ryan.