March 4 (Bloomberg) -- The number of contracts to buy previously owned U.S. homes unexpectedly declined in January, showing the extension of a tax credit is sparking little interest.
The index of purchase agreements, or pending home sales, fell 7.6 percent after a revised 0.8 percent increase in December, the National Association of Realtors announced in Washington. In November, the measure slumped a record 13.7 percent. Snowstorms in February probably limited contract signings and sales that month as well, the group said.
The renewal of a government incentive to first-time buyers, originally due to expire at the end of November, and its expansion to include current owners has yet to lure buyers back into the market after helping boost sales last year. A lack of jobs and mounting foreclosures have depressed confidence, indicating housing will take time to rebound.
The original deadline for the credit “clearly pulled demand forward and there has been a substantial payback,” said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “The housing recovery is going to be very, very slow.”
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Yes, the snow prevented the money from falling from the sky.
ReplyDeleteWell.. I'm buying up stock big time and making a killing. Things are improving very fast so you have to get in early to make a good buck.
ReplyDelete9:56 : Not true. Buying stocks now is the best time, things will constantly improve. ie: you make money! I no longer need to work from the stocks I have currently. I make approx. $60,000 pa on my dividends alone. Those in the know, realise there is no depression coming, things are improving, and we're buying up stocks at super cheap prices.
ReplyDeleteIn an economic crisis it never rains but pours.
ReplyDeleteNow stinking snowstorms are preventing house prices from rising , the employment of building workers to make more houses and the whole money printing ‘recovery” led first by Bush and bernanke And now Obama and bernanke. Even the unemployed were said to have been prevented from registering for unemployment benefits by this stinking snowstorm . Was the snowstorm sent by god as divine intervention to prop up americas statistical recovery.
Now on top of the snowstorm Iran's President Mahmoud Ahmadinejad asserts that the lingering global financial crisis has exposed the dark side of the capitalist economic system in the West, adding that the US will go down in history as the biggest thief ever.
Is this a religious or economic point of view on the dollar hegemony system
from the third world?
The Iranian president added that Western countries should face up to the fact that the greed of capitalism has pushed it into the brink of collapse.
"The whole idea of capitalism is based on emptying the pockets of world's nations to secure the interests of a selected few," he emphasized.
But it is well known by amerikans that you cannot believe this lying religious third world
nutter.
"Based on credible reports, the US Treasury over the past 30 years has printed more than USD 29,000 billion (USD 29 trillion) in debt-based banknotes and has given it to nations in exchange for goods. This method is the biggest theft in human history," said the Iranian president. “
But now the americans are crying empty pockets too as credit drys up and the treasury is reduced to buying its own printed paper. Is this dry up normal in a snowstorm and for foreign religious nutters to howl like wolves baying at the great american moon out of frustration at the great american recovery is real as the last comment explains
"those in the know", like the 700 Billion dollar man, Neel Kashkari, have moved into the secluded mountains of CA, to wait out what is coming.
ReplyDelete9:49, 9:56 & 11:10 obviously the same goon, govt payroll? Just keep on buying stocks, also you might want to put lots of money in your savings account in your bank.
ReplyDeleteMeanwhile, for those of who live in reality and care, this sales plummet is not unexpected, the coming depression is here, and will not improve for many years. The Police state is being set up now. Read 1984, its happening now!
EVERYONE PLEASE PUT ALL YOUR MONEY IN THE BANKS AND ALL YOUR PRECIOUS METALS IN YOUR SAFE DEPOSIT BOX AND LEAVE IT THERE, DONT TOUCH IT, JUST KEEP ADDING TO IT PLEASE DO THIS
ReplyDelete