Sales of previously owned U.S. homes rose in January to the highest level since 2010

Discussion in 'Current Events' started by Jebediah, Feb 22, 2012.

  1. Jebediah

    Jebediah Banned

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    Previously owned home sales are on the mend. Investors are swooping in on distressed properties and clearing out inventory. Reports seem to indicate it's mostly investors doing the buying. If and when lay people start following the smart money we could see acceleration towards price stability.

    Looks like a lot of people ignored the boneheaded advice to "sit on the sidelines."

     
  2. Taxcutter

    Taxcutter New Member

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    Cut the price enough and they'll sell.
     
  3. Jebediah

    Jebediah Banned

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    That's true. I'm just glad they ignored advice to sit on the "sidelines."
     
  4. Taxcutter

    Taxcutter New Member

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    Hey! Sell 'em for $500 a piece and I'll buy a couple.

    But somebody is taking a heckuva haircut.
     
  5. DBM aka FDS

    DBM aka FDS Well-Known Member

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    My home dropped almost 100k... it's ridiculous... I will probably never make back what I bought my house for!
     
  6. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    You turning 1% on us Jeb?

    So banks and investors making profits from from the Average American's losses is somehow good economic news for the for the 99%? Please explain.
     
  7. Jebediah

    Jebediah Banned

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    So you admit your previous post about sitting on the "sidelines" was wrong?
     
  8. Ethereal

    Ethereal Well-Known Member

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    Wealthy investors are capitalizing yet again on the destruction of the housing market?

    Great news!
     
  9. Jebediah

    Jebediah Banned

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    "Professor," you only make a profit when you sell. You don't make a profit when you buy. ECON 101.

    Why is it that **********s don't know a thing about basic finance?
     
  10. Big George

    Big George Banned

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    Hahahahahaha! Home sales are up over last year. Wow, what a way of spinning it! :clap:
     
  11. Taxcutter

    Taxcutter New Member

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    Detroit is buying derelict homes for nearly nothing and bull dozing them.
     
  12. Cigar

    Cigar Well-Known Member Past Donor

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    Been there ,,, Done that! :worker:
     
  13. Taxcutter

    Taxcutter New Member

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    May as well bulldoze them.

    Metal thieves have stolen all the piping and wiring.
     
  14. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    Econ 101 says buy low sell when the prices come back, rent in the meantime.

    Why is it that liberals don't know a thing about basic finance?
     
  15. Big George

    Big George Banned

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    Because Liberal Econ 101 says, "Live high on the hog, then expect somebody else to bail you out."
     
  16. Jebediah

    Jebediah Banned

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    The article didn't say anything about investor sales, rentals, or profits. It merely said they are making distressed purchases. You can't book your profits until you make them. A purchase≠profit.
     
  17. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    Please don't make me explain investing to you again.

    Buy low, sell when the prices come back, rent in the meantime.
     
  18. Jebediah

    Jebediah Banned

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    Professor no profits have as of yet been made as far as the article is concerned. Not every purchase results in a profit. You've been busted... again. Stop trying to cover it up.
     
  19. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    So your saying investors buy to lose money? They wouldn't buy unless they would indeed make a profit. All you've proven with this thread is the market is near the bottom, low enough to spur investment.

    If and when? Pure speculation on your part that assumes facts not in evidence such as lay people will have the money and the credit rating TO buy. Consider yourself busted again.
     
  20. Jebediah

    Jebediah Banned

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    I'm telling you what you should have been told in kindergarten, "Don't count your chickens before they hatch."
     
  21. Jebediah

    Jebediah Banned

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    Yeah. That's why they call the purchase of any distressed asset class "speculative."

    Republicans know so little about business. It's embarrassing.
     
  22. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    LOLOLOL!

    It didn't say anything about lay people buying, following smart money or any acceleration towards price stability either..

    Busted again.
     
  23. Crafty

    Crafty Well-Known Member

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    The numbers in the OP are from the National association of Realtors so pardon me if I am severely skeptical. I say this because oddly enough I read an article about their BS today.

    here it is

    Its amazing that their sales numbers can be revised by such a large amount, its almost like they aren't very good at counting... of course this isn't the only time...
    Not that I don't want the economy to improve, but I have a hard time taking numbers seriously when the one reporting is consistently proven to be incompetent.
     
  24. squidward

    squidward Well-Known Member

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    are you disputing the entire premise of your own thread, that housing is on a comeback ? Good job.
     
  25. Jebediah

    Jebediah Banned

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    I never said housing is coming back. READ the title of the thread. It is an objective statement. Is it wrong?
     

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