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Housing Recession

Zam-Zam

Senator
In stark contrast to the happy talk coming out of the administration, reality:

US homebuilders say there's a 'housing recession'; sentiment falls for 8th month in a row

After a blistering months of increased prices, there's a strong consensus among U.S. homebuilders that there is a "housing recession."

In August, U.S. homebuilder sentiment (HMI) is seeing the market for single-family homes dip into negative territory a month after one of the most significant single-month drops in its 37-year history says the latest report from the National Association of Home Builders (NAHB) and Wells Fargo.

The index fell 6 points to 49 this month, the eighth straight month of low sentiment.



Complete text: US homebuilders believe the nation is now in a 'housing recession' (usatoday.com)


1660657264499.png


Now, back to the circus that our leaders have provided for your distraction.

It's all good.

:)
 

RickWA

Snagglesooth
In stark contrast to the happy talk coming out of the administration, reality:

US homebuilders say there's a 'housing recession'; sentiment falls for 8th month in a row

After a blistering months of increased prices, there's a strong consensus among U.S. homebuilders that there is a "housing recession."

In August, U.S. homebuilder sentiment (HMI) is seeing the market for single-family homes dip into negative territory a month after one of the most significant single-month drops in its 37-year history says the latest report from the National Association of Home Builders (NAHB) and Wells Fargo.

The index fell 6 points to 49 this month, the eighth straight month of low sentiment.



Complete text: US homebuilders believe the nation is now in a 'housing recession' (usatoday.com)


View attachment 71973


Now, back to the circus that our leaders have provided for your distraction.

It's all good.

:)
Speaking of our “leaders”, there’s some terminology leveraged among the rabidly partisan shut-ins of PJ of which you reminded me. Specifically, regarding your OP subject, recessions and economic downturns are “corrections” when they occur during the terms of the favored political party. There are many more shamelessly whitewashed propagandistic words and phrases constantly used to swaddle the beloved party “baby” in comfort and joy.

Recession/downturn - “correction

Lie/dishonesty - “misspoke”, “sloppy rhetoric”, “overselling

Enthusiastic deployment of federal bureaucracies to selectively punish political enemies - “the rule of law”; “no one is above the law”; “constitutional duty


** I eagerly await the roll-out of much needed needed additions. I expect:

Falling down/stumbling repeatedly on stairs - “gravitational anomaly”

Habitual, repeated mumbling and speaking incoherent nonsense - “linguistic anomaly”

Attempted phantom/invisible man handshakes - “anticipatory greetings”

As always, I am sure we’re in for a treat. Homebound practitioners will ply their wares with straight faces…and I am thankful that at least their faces are straight. :-0
 

Zam-Zam

Senator
Speaking of our “leaders”, there’s some terminology leveraged among the rabidly partisan shut-ins of PJ of which you reminded me. Specifically, regarding your OP subject, recessions and economic downturns are “corrections” when they occur during the terms of the favored political party. There are many more shamelessly whitewashed propagandistic words and phrases constantly used to swaddle the beloved party “baby” in comfort and joy.

Recession/downturn - “correction

Lie/dishonesty - “misspoke”, “sloppy rhetoric”, “overselling

Enthusiastic deployment of federal bureaucracies to selectively punish political enemies - “the rule of law”; “no one is above the law”; “constitutional duty


** I eagerly await the roll-out of much needed needed additions. I expect:

Falling down/stumbling repeatedly on stairs - “gravitational anomaly”

Habitual, repeated mumbling and speaking incoherent nonsense - “linguistic anomaly”

Attempted phantom/invisible man handshakes - “anticipatory greetings”

As always, I am sure we’re in for a treat. Homebound practitioners will ply their wares with straight faces…and I am thankful that at least their faces are straight. :-0

"Zero inflation"

:D
 

Bugsy McGurk

President
In stark contrast to the happy talk coming out of the administration, reality:

US homebuilders say there's a 'housing recession'; sentiment falls for 8th month in a row

After a blistering months of increased prices, there's a strong consensus among U.S. homebuilders that there is a "housing recession."

In August, U.S. homebuilder sentiment (HMI) is seeing the market for single-family homes dip into negative territory a month after one of the most significant single-month drops in its 37-year history says the latest report from the National Association of Home Builders (NAHB) and Wells Fargo.

The index fell 6 points to 49 this month, the eighth straight month of low sentiment.



Complete text: US homebuilders believe the nation is now in a 'housing recession' (usatoday.com)


View attachment 71973


Now, back to the circus that our leaders have provided for your distraction.

It's all good.

:)
As wingers root for a housing recession, or any kind of actual recession, people see that home prices are staying steady or continuing to increase.

But winger hope springs eternal, complete with their idiotic cartoons!

;-)
 

RickWA

Snagglesooth
As wingers root for a housing recession, or any kind of actual recession, people see that home prices are staying steady or continuing to increase.

But winger hope springs eternal, complete with their idiotic cartoons!

;-)
If, by steady, you mean moving markedly downward as evidenced by both “asking” and “selling” prices in varied markets from Phoenix to Portland…then yes indeed.
 

bdtex

Administrator
Staff member
If it's true, the homebuilders themselves are big contributors. They don't build what used to be called "starter homes" anymore. That's why the secondary market does so well. Builders are like some other businesses that are pricing themselves right out of the market.

Anyone buy or try to buy a new residential HVAC unit lately?
 

RickWA

Snagglesooth
If it's true, the homebuilders themselves are big contributors. They don't build what used to be called "starter homes" anymore. That's why the secondary market does so well. Builders are like some other businesses that are pricing themselves right out of the market.

Anyone buy or try to buy a new residential HVAC unit lately?
I just replaced both the AC chiller unit as well as the furnace in our primary home this past June. The home was built in 1998 and it was time. That kinda smarted…. :-/
 

Bugsy McGurk

President
If, by steady, you mean moving markedly downward as evidenced by both “asking” and “selling” prices in varied markets from Phoenix to Portland…then yes indeed.
Ridiculous. Talk to people listing their houses. The bidding wars continue.

Sorry to disappoint you, but there isn’t a housing recession. There just isn’t.
 

Bugsy McGurk

President
Hey…we just received another partisan glossary submittal:

Noting or observing a factual truth undesired by partisans - “rooting” for said truth.
Don’t compound your dishonesty by pretending you wingers don’t root for bad news. It’s obvious.
 

Zam-Zam

Senator
Another ominous sign:

Homebuyers are backing out of more deals as high mortgage rates persist and recession fears linger

  • Homebuilder cancellation rates have more than doubled since April, according to surveys by John Burns Real Estate Consulting.
  • Nationwide, about 63,000 deals on existing homes fell through in July, or about 16% of homes that went under contract that month, according to Redfin. Cancellations were 12.5% in July 2021.

Complete text: Homebuyers are backing out of more deals as high mortgage rates persist and recession fears linger (msn.com)


None of this is positive, no matter the political rhetoric.
 

Bugsy McGurk

President
Cotton Admits Trump Started Inflation Not Biden


"...I happen to think Trump’s preference for low interest rates and a hot economy was correct. Cotton disagrees. But whatever your position on the merits of the Trump-Powell interest-rate regime, Cotton is telling us that inflation levels are Trump’s fault, not Biden’s..."
Tom Cotton forgot his lines.

;-)
 

bdtex

Administrator
Staff member
Cotton Admits Trump Started Inflation Not Biden


"...I happen to think Trump’s preference for low interest rates and a hot economy was correct. Cotton disagrees. But whatever your position on the merits of the Trump-Powell interest-rate regime, Cotton is telling us that inflation levels are Trump’s fault, not Biden’s..."
Recall too how 7 years of similar policies created the bubble that burst in 2008. I admit too that I made a lot of money on that bubble before it burst and the bubble we have now.
 

RickWA

Snagglesooth
Ridiculous. Talk to people listing their houses. The bidding wars continue.

Sorry to disappoint you, but there isn’t a housing recession. There just isn’t.
Dead wrong, as always. I have a kid entering the U of AZ next week. I have been in process of buying another home - and have been searching both the greater Tucson and Phoenix areas. Similarly, we are considering selling another home in a highly desired suburb just SW of Portland. All three markets are witnessing price falls relative to the Spring and Early Summer levels. Our search has been thoroughgoing - and roughly one-year in duration this far. The pricing dynamic has caused us to pause the purchase end of the equation, considering even renting for a brief period to take advantage of the downturn. Based on factual market characteristics, we plan to hold onto the Oregon home, while purchasing one in AZ at a wise interval.

The constant partisan hackery, disinformation, and cockeyed Baghdad Bobbery of you and other leftists in this forum is repulsive. Stop whoring yourself all the time.
 
Another ominous sign:

Homebuyers are backing out of more deals as high mortgage rates persist and recession fears linger

  • Homebuilder cancellation rates have more than doubled since April, according to surveys by John Burns Real Estate Consulting.
  • Nationwide, about 63,000 deals on existing homes fell through in July, or about 16% of homes that went under contract that month, according to Redfin. Cancellations were 12.5% in July 2021.

Complete text: Homebuyers are backing out of more deals as high mortgage rates persist and recession fears linger (msn.com)


None of this is positive, no matter the political rhetoric.
Have you seen the housing market over the past 2.5 years?

A cooling of the housing markets, is a good thing.
 

Zam-Zam

Senator
Dead wrong, as always. I have a kid entering the U of AZ next week. I have been in process of buying another home - and have been searching both the greater Tucson and Phoenix areas. Similarly, we are considering selling another home in a highly desired suburb just SW of Portland. All three markets are witnessing price falls relative to the Spring and Early Summer levels. Our search has been thoroughgoing - and roughly one-year in duration this far. The pricing dynamic has caused us to pause the purchase end of the equation, considering even renting for a brief period to take advantage of the downturn. Based on factual market characteristics, we plan to hold onto the Oregon home, while purchasing one in AZ at a wise interval.

The constant partisan hackery, disinformation, and cockeyed Baghdad Bobbery of you and other leftists in this forum is repulsive. Stop whoring yourself all the time.
Best of luck to your "kid" as he/she embark on his/her academic career - My daughter graduated last year (a year early, Summa Cum Laude), and is already working. The time goes by in the blink of an eye, so enjoy these days.

And also good luck as you search for housing - Like many Americans, you are finding out this is not the best of times for home-buying.

All the best to you and yours.
 
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