Existing home sales drop for ninth straight month in October

Discussion in 'Current Events' started by sec, Nov 18, 2022.

  1. sec

    sec Well-Known Member

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    https://www.foxbusiness.com/economy/existing-home-sales-drop-ninth-straight-month-october

    HYPERLINK has full article

    snip

    On an annual basis, home sales plunged 28.4% in October...................

    Sales of previously owned homes tumbled 5.9% in October from the previous month


    end snip

    Continued bad economic news. I hope that real estate agents saved their dollars from the short, sales flurry that occurred post-covid. It's going to be bad for the foreseeable future until we can eradicate the damage from 2 years of full Democrat control. 2023 isn't going to be pretty
     
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  2. balancing act

    balancing act Well-Known Member

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    In my area, gas prices are down, other prices are coming down, and the loan rates for home purchases just dropped dramatically.
    Are you going to post any articles that support things as they are obviously getting better?
    AND, if the economy improves over the next year or so (which I think it will), are you going to give credit to the "Dems" for that, or come up with some other reason that something else is their fault?
    You seem to be under the impression that Republican rule would be better for the regular folks. I haven't seen anything in history that supports the notion that Republicans are better for the economy or the regular folks than Democrats, so your constant bleating about the same subject has gotten stale.
    Almost as if you're a paid influencer for the Republican party............
     
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  3. drluggit

    drluggit Well-Known Member

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    Democrats doing democrat... When you push the inflation, you drive folks from the home market, as the cost of mortgages has increased roughly 60%. And they find themselves becoming dependent on rental markets dominated by democrat donors like Blackrock. Funny how that's working out...
     
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  4. WhoDatPhan78

    WhoDatPhan78 Banned

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    Hopefully home prices keep falling for a while.

    People were getting priced out of a place to live.
     
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  5. TheAngryLiberal

    TheAngryLiberal Banned

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    That's what I'm hoping for, just sold my rental in Washington at the top of the market 5 months ago and going to use that money to buy a another home in Arizona for cash, so I'm not affected by interest rates.
     
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  6. sec

    sec Well-Known Member

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    there is no right to ownership nor to buying a house just a few miles from work or family. It's great that you are cheering a loss of equity for a lot of folks
     
  7. sec

    sec Well-Known Member

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    when gas prices get to where they were in jan 2021 get back to us. Same for everything else

    It's the old Democrat ploy used for decades in Mass.

    Raise fees/taxes etc by 50%


    Go back and reduce the increase to 25%

    Tell the folks and have media support the statement that you cut taxes/fees by 50% when in fact, you raised them

    So, we should be cheering for this train wreck; is that what you are implying?
     
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  8. The Mello Guy

    The Mello Guy Well-Known Member

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    I thought you wanted prices for stuff to go down? Just not homes?
     
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  9. The Mello Guy

    The Mello Guy Well-Known Member

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    Why is there a right to cheap gas then?
     
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  10. The Mello Guy

    The Mello Guy Well-Known Member

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    Why is home price inflation ok but not anything else?
     
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  11. Nemesis

    Nemesis Well-Known Member

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    ---and how in the Hell does a President control the price of gas?
     
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  12. sec

    sec Well-Known Member

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    who the heck ever said there is a "right" to cheap gas? Let's cheer on the failures from Full Democrat Control
     
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  13. drluggit

    drluggit Well-Known Member

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    I guess you don't care about the folks who find their home values sliding.... As in they are losing their own wealth.... People were priced out. In a lot of places. But that doesn't mean it was all bad news. Especially for those home owners who saw the value of their wealth expand. But that isn't ok with democrats, real folks can't win. Hence the war on their wealth that we see. Inflation is the punishment of democrats on the people. And you seem to be clapping for it.
     
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  14. The Mello Guy

    The Mello Guy Well-Known Member

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    I don’t remember you posting complaining that prices went down for gas….did I miss it?
     
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  15. The Mello Guy

    The Mello Guy Well-Known Member

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    Same way he decides what homes cost I guess lol
     
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  16. drluggit

    drluggit Well-Known Member

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    I don't think you quite got that right. I suspect that many of us would like to see artificial price inflation capped. Did you have a point about how you don't like the economic tide to improve the lives of our citizens as wealth increases? Seems like you don't like that idea.

    So, you're going to see what actually happens when democrats fail. Home purchasing is falling off a cliff. Even with lower pricing. Why? Interest rates to try and influence the artificial inflation caused by reckless democrats. So, folks aren't buying houses. Neither are they going to be able to afford to eat, or drive. I suspect you support that condition though. Starving dependent looking for a hand out, from whom? Government which induces yet more artificial inflation, blah blah blah... Yeah, we have seen this movie before.
     
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  17. balancing act

    balancing act Well-Known Member

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    Taxes and inflation are two different things. Your logic about the prices is erroneous, as inflation rates and prices are two different things.
    Prices go up, almost always. Sometimes there are some reductions, but they are usually temporary. That's why an average car costs more 10 years later.
    Unless you expect prices to always remain the same. If that's what you are expecting, you will be disappointed by not just Democrats, but Republicans and the entire rest of the planet.
    Not sure if you see the error in your logic, but you have created an unrealistic expectation to fault a group you don't like.
    We should all be "cheering for" our government, but I take it you don't unless it's the people you want. That doesn't sound very patriotic. Are you beholden to only Republicans, but not to the US of A?
     
  18. drluggit

    drluggit Well-Known Member

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    Why would folks be angry about lower energy costs? It doesn't effect their actual wealth does it? And it allows them to do other cool stuff, like maybe buying a house for the first time... but you folks don't think that's appropriate, cause, not dependent...... Yeah, we get it.
     
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  19. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    I'm not a Republican, I'm a Libertarian, and my guess the reason why you can find no history of Republicans being better for the regular people us because you likely make excuses for poor Dem leadership. Right.

    This economic issue was uncontrollable and not the result of Dems. Right?
     
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  20. sec

    sec Well-Known Member

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    Cheering for the USA would include eradicating Democrat control. We are in a train wreck thanks to full Democrat control. What is there to cheer for given our situation? Sounds to me like it is you who is the partisan. Nice attempt though; but you tipped your hand
     
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  21. WhoDatPhan78

    WhoDatPhan78 Banned

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    yea i moved a year and a half ago and sold the home I was living in for 175k more than
    I don't really care no. I am a homeowner too, so it's not like i'm not affected.

    Homes cost too much. No one should be treating a home as an investment. It has utility. Society as a whole benefits more if homes are affordable.

    I could be a selfish bastard and bitch about home values declining, but i'm not.
     
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  22. balancing act

    balancing act Well-Known Member

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    I didn't look for a history of Republicans being good or bad for the economy. That would take a lot of research, and it couldn't be tied to just one party in the white house, as congress has a lot to do with it.
    You're trying to read something into what I said to @sec, and you shouldn't.
    I don't think much of the economic situation can be blamed on the Dems or the Reps. Both made some mistakes that contributed, and both made some moves that helped, but my point is that blaming everything on one group is foolish and erroneous.
    If you want to place yourself in that group, be my guest. If you have a different opinion, that does happen.
    I doubt you will post any real data tied to show that it is only and always Democrat leadership that is bad economically. They both sometimes screw up, and they both sometimes make wise moves. But much of the economy isn't up to the government, all they can do is tweak from afar.
    Unless you are advocating that the federal government should take control of all the business in America. Sounds a little like socialism to me, is that what you are advocating?
    I do think the Democrats are more likely to have more government intervention (rules, regulations etc) and the Republicans are less likely to, but neither one by itself is good. Not good to have too much, not good to have too little, unless you believe that big business will look out for the people. Good luck with that.
    Try and read what I typed without adding in your own twist.
    Lord knows I'm twisted enough without someone else helping! lol
     
  23. balancing act

    balancing act Well-Known Member

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    See post #22.
     
  24. Moolk

    Moolk Banned

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    Democrats really ****ed what was such a great economy
     
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  25. WhoDatPhan78

    WhoDatPhan78 Banned

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    You can tell oil is at 80$. They had to put something else into the rotation.

    Mentally, conservatives still are at 120$ a barrel oil.

    The US has had a better two years economically than pretty much every other country on the planet. Oil prices are at the same place they were in September of 2007, and that doesn't even account for inflation.
     
    Last edited: Nov 18, 2022
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