Home Sales Post Unexpected Jump As Prices Tumble

There are 4 comments on the CBS 4 story from Mar 24, 2008, titled Home Sales Post Unexpected Jump As Prices Tumble. In it, CBS 4 reports that:

After falling for six straight months, sales of existing homes posted an unexpected increase in February which may have reflected more aggressive price cutting by sellers in some parts of the country, a real ...

Join the discussion below, or Read more at CBS 4.

JayB

Newburyport, MA

#1 Mar 24, 2008
The media is determined to talk us into a recession/depression. It is a shame when facts get in the way of a liberal media campaign to bring the economy down. People with good credit can always buy homes. Buyers who knew they could not afford an expensive home, coluded with unscruptulous mortgage originators who pocketed big comissions, who in turn sent these shaky mortgage "investments" to Wall Street where more greedy people took their share. I repeat: responsible individuals with good credit, who pay their bills will always be able to buy a home.
Get a fixed rate mortgage and forget the gimmick mortgages. Maybe wait until a person can afford a down payment. Such a novel idea.

“Snooze you lose”

Since: Mar 07

Sunnyvale, CA

#2 Mar 24, 2008
JayB wrote:
The media is determined to talk us into a recession/depression. It is a shame when facts get in the way of a liberal media campaign to bring the economy down. People with good credit can always buy homes. Buyers who knew they could not afford an expensive home, coluded with unscruptulous mortgage originators who pocketed big comissions, who in turn sent these shaky mortgage "investments" to Wall Street where more greedy people took their share. I repeat: responsible individuals with good credit, who pay their bills will always be able to buy a home.
Get a fixed rate mortgage and forget the gimmick mortgages. Maybe wait until a person can afford a down payment. Such a novel idea.
Why is this a liberal media thing? It seems like it's just simple reporting, more than some kind of conspiracy.

It's a fact that a higher percentage of homes are in foreclosure than any time since the 1950's.
It's also a fact that 100+ sub-prime lenders have gone out of business including some pretty big ones.

And who pushed hardest for a bailout of the sub-prime lenders? The current administration. I wouldn't call Bush a liberal.
Figgs

United States

#3 Mar 24, 2008
We see the market finally correcting itself and Hillary wants to bring in Alan Greenspan to study if the government should buy homes? Spending more money (while running a record deficit) to have the man who orchestrated this mess to begin with get us further into problems? Bailing out irresponsible lenders amounts to socialism. Why would be perpetuate the problem that got us in this mess (shady lending practices and irresponsible personal finance)? Why would we condone the massive swindling thats been so pervasive in the home market as of late? Shrillary is at it again!

Since: Aug 07

Pleasanton, CA

#5 Mar 25, 2008
JayB wrote:
The media is determined to talk us into a recession/depression. It is a shame when facts get in the way of a liberal media....
Good grief, don't let the simple explanation get in the way of the wacked-out conspiracy theory.

Sometimes the simple explanation is better. This is a normal cycle, and predictable by anyone with even a modest background in economics.
But the "liberal conspiracy" is much more fun.

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