Existing Home Sales Surge 12.3% in De...

Existing Home Sales Surge 12.3% in December

There are 12 comments on the www.theatlantic.com story from Jan 20, 2011, titled Existing Home Sales Surge 12.3% in December. In it, www.theatlantic.com reports that:

Are we seeing a rebound in Americans' demand for home buying? We could be, according to today's existing home sales report from the National Association of Realtors. Sales increased 12.3% to the annualized rate of 5.28 million. That soundly beat expectations of 4.88 million sales. December was the first month to exceed the 5 million annual sales pace since June, when the market was still benefitting from the home buyer credit. Is this an indication that sales are rebounding or is this just a blip?

Join the discussion below, or Read more at www.theatlantic.com.

Since: Dec 07

Clermont, Florida

#1 Jan 20, 2011
The reason they're selling is because in many areas the price is less than 50% of the original selling price. They've been foreclosed and the banks are having to sell them to keep from paying all those property taxes.

I heard on some program last week that it would be 15 years before we rebound. We're back to 2001 valuation in our homes in this area so it's no wonder homes are selling if they're still in good condition.

“Make America Great Again”

Since: Jun 07

Bring Obama Back!

#2 Jan 20, 2011
Obama’s economic policies once given a chance to circulate through the veins of the economy… can work wonders. Two years of hard work to implement the Obama agenda is starting to pay off… now Obama has to prevent the republicans from stifling the economy with their proven failed policies.

Since: Mar 10

Location hidden

#3 Jan 20, 2011
Marine Corp Pat wrote:
Obama’s economic policies once given a chance to circulate through the veins of the economy… can work wonders. Two years of hard work to implement the Obama agenda is starting to pay off… now Obama has to prevent the republicans from stifling the economy with their proven failed policies.
i make a rule to not respond to your idiocy, but, THAT was just TOO FCKING stupid to ignore.
meanwhile,in the REAL world, dumbass, it was the LOWEST new home construction year in history, there's STILL 400,000+ NEW unemployment claims every month and the country is on the verge of bankrupcy...
and you're touting his economic successes??????
is it a wonder everyone thinks you're a total moron?
plainstuff

Vancouver, WA

#5 Jan 20, 2011
Marine Corp Pat wrote:
Obama’s economic policies once given a chance to circulate through the veins of the economy… can work wonders. Two years of hard work to implement the Obama agenda is starting to pay off… now Obama has to prevent the republicans from stifling the economy with their proven failed policies.
OK, I get it. Everything is gonna be okay because Obama put us,
our children, and our grandchildren in debt to countries over
which we used to have some leverage ..... like China. How sad
that you are proud of that accomplishment. You'd probably get
your wife another credit card if she maxed out all the others and
pat yourself on the back for your generosity.
inept obama

Kennesaw, GA

#7 Jan 21, 2011
Marine Corp Pat wrote:
Obama’s economic policies once given a chance to circulate through the veins of the economy… can work wonders. Two years of hard work to implement the Obama agenda is starting to pay off… now Obama has to prevent the republicans from stifling the economy with their proven failed policies.
obama's policies have been a disaster! Record high unemployment numbers, record high numbers of Americans living in poverty, record high national debt. obama is a total failure! The economy is only up due to business and industry circumventing obama's anti business tactics and corporations have been able to perform the same work with far fewer employees to increase profits. Home sales are up because the country takes a positive optimism of the Republican sweep of Congress. I'm looking for a second home right now. I want to buy while prices are still cheap.

Since: Jan 07

Location hidden

#8 Jan 21, 2011
Just like 'Cash for Clunkers' it is a blip which will quickly fade to black again. That and combined with, as others have stated, the wealthy buying up homes that have lost +50% in value. They will rent out for tax breaks, and then sell at considerable value increase or dump back on the market at a loss, again another big tax write-off.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#9 Jan 22, 2011
Dismayed wrote:
The reason they're selling is because in many areas the price is less than 50% of the original selling price. They've been foreclosed and the banks are having to sell them to keep from paying all those property taxes.
I heard on some program last week that it would be 15 years before we rebound. We're back to 2001 valuation in our homes in this area so it's no wonder homes are selling if they're still in good condition.
Yes. In two years President Obama and the Democratic Congress have brought the economy back to where it was before Bush scuttled it.

Employment, however is another story.
The GOP tax cuts encouraged many jobs to leave the USA forever; and the combined GOP-Democratic failure to eliminate illegal aliens has caused great damage to US employment that nobody talks about for some reason.

But, most of these illegals are working off the books for far less than US natives can afford to accept, living in hot-beds with a dozen other workers, and sending half of their earnings back home to Mexico and other south places.

Add those 10 Million jobs to the employent statistics and what have you?

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#10 Jan 22, 2011
inept obama wrote:
<quoted text>obama's policies have been a disaster! Record high unemployment numbers, record high numbers of Americans living in poverty, record high national debt. obama is a total failure! The economy is only up due to business and industry circumventing obama's anti business tactics and corporations have been able to perform the same work with far fewer employees to increase profits. Home sales are up because the country takes a positive optimism of the Republican sweep of Congress. I'm looking for a second home right now. I want to buy while prices are still cheap.
You keep incorrectly blaming President Obama for Bush's failures.
Your lies are weak, and unjust.
Mrs Bill

Vancouver, WA

#11 Jan 22, 2011
Mr_Bill wrote:
<quoted text>
Yes. In two years President Obama and the Democratic Congress have brought the economy back to where it was before Bush scuttled it.
Employment, however is another story.
The GOP tax cuts encouraged many jobs to leave the USA forever; and the combined GOP-Democratic failure to eliminate illegal aliens has caused great damage to US employment that nobody talks about for some reason.
But, most of these illegals are working off the books for far less than US natives can afford to accept, living in hot-beds with a dozen other workers, and sending half of their earnings back home to Mexico and other south places.
Add those 10 Million jobs to the employent statistics and what have you?
Hey hubby, since you brought it up, you lost your $30 an hour
job moving papers from one side of your desk to another, but
I don't see you going out and applying for an $8 an hour job
at Taco Bell. Instead you sit in front of your computer all
day telling me you are an editor for a communications company.
Meanwhile I'm working as a maid at the No Tell Motel every
morning and washing dishes at the Beef and Brew. Lazy a$$.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#12 Jan 22, 2011
Mrs Bill wrote:
<quoted text>
Hey hubby, since you brought it up, you lost your $30 an hour
job moving papers from one side of your desk to another, but
I don't see you going out and applying for an $8 an hour job
at Taco Bell. Instead you sit in front of your computer all
day telling me you are an editor for a communications company.
Meanwhile I'm working as a maid at the No Tell Motel every
morning and washing dishes at the Beef and Brew. Lazy a$$.
You didn't make the beds this morning. No lunch money for you.
And don't forget, your man fixes broken machines.
Mrs Bill

Vancouver, WA

#13 Jan 22, 2011
Mr_Bill wrote:
<quoted text>
You didn't make the beds this morning. No lunch money for you.
And don't forget, your man fixes broken machines.
I made 14 beds at the motel while you slept on the couch
downstairs. You don't now squat about what used to be
our bed since you got addicted to this Topix thingy.

No lunch money? When was the last time you were ever out
of bed before lunch?

"Broken machines?" Hey, I just want a man with a machine
that gets up in the morning, goes out, and looks for a reasl
job.

If you are talking about that "other" broken machine, I've
told you there are blue pills that can fix that.

Since: Jan 11

Location hidden

#14 Jan 26, 2011
I think we need to be fair and give it more time. How can we say it's not a blip with only limited data but I sure hope it's a good sign of things to come!

__________
Stage your home to sell with Creative and afforbable Home Decor!

www.YourHometownEmporium.com

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Home Buying Discussions

Title Updated Last By Comments
News Craig Barrager Remax Real Estate Centre (May '14) Apr 21 where tax cash going 9
Fixer Upper Vs. Move in Ready Mar 29 Melissad79 1
will staying in motel waiting on house closure ... Mar '17 wispy 1
News Real Estate Agents: Single-Family Homes a Hot R... (Jun '12) Mar '17 oat 256
News How to buy a house Mar '17 SBaer 3
Steps to take if transaction amount was wrong d... Mar '17 dremaer79 1
News Buying homes tough for young families (Aug '14) Feb '17 Gustan Cho 9
More from around the web