Existing-Home Sales Rise In February - Fox News anchors are partying like it's 2005

[cjppjc]

Re: Existing-Home Sales Rise In February - Fox News anchors are partying like it's 2005

You are correct about your assessment of interest rates playing a substantial part in home ownership. When we owned a Coldwell Banker franchise we noticed that the typical 'spring/early summer'' markets where not the only ones that generated buyers. When interest rates were low, buyers bought. Didn't matter what season it was.

But buyers...occupying the residence...only purchased when they felt secure about employment. Right now some are anxious to purchase but are walking on egg shells...in other cases...glass. Before you see an increase in owner occupied houses your probably gonna have to see better economic indicators.

There are some bargain hunters and bottom fishers out in the market now that are giving it a boost... perhaps...'a goose' would be a more appropriate imagine. Don't think either will sustain a FIRE system recovery. Kind of like a 'dead cat bounce' in the stock market. Once interest rates begin to rise because of inflationary pressures, the game is over: unless...ya get a whole bunch of salary generous giftlets from the corporate sector extending to the 'rank and file' folks and not just to the 'exec bathroom' folks. I don't expect that to happen in this market. And I don't think there's enough bargain buyers to sustain this increase in sales 'activity' for an extended period of time.

There may be exceptions. We had a young man in our office who had the good fortune of meeting and representing an Asian investment group back then. They swooped in and bought a ton of real estate in the projected growth area of the community. They were long term land bank investors. It paid off for them when the market turned, interest rates dropped, developers were bidding prices of land up, and the city was willing to expand. Not sure that will happen again. There's a ton of inventory out there. Some of it is hidden...like the toxic assets of the banks...and will only appear when the sellers think the time is right.

Where was your Coldwell Banker franchise located. In the northeast, seasonality play a large roll. I've said it before, to all those that want to buy a house, December/January is the best time. Days on the market are higher. Less buyers around.

[vanvaley1]

Re: Existing-Home Sales Rise In February - Fox News anchors are partying like it's 2005

Where was your Coldwell Banker franchise located. In the northeast, seasonality play a large roll. I've said it before, to all those that want to buy a house, December/January is the best time. Days on the market are higher. Less buyers around.

Gilroy, California. Sometimes the holidays are good for purchasing...sometimes not. More than a few sellers took their homes off the market during the holidays and put them back on when the market looked more promising.

But this market is something else. Ya can throw out the rule book on this puppy.

[BiscayneSunrise]

Re: Existing-Home Sales Rise In February - Fox News anchors are partying like it's 2005

As a Canadian, I support our troops. And yet, I don't have a big problem with this news item. It was ironic and satyrical, pushing the envelope as to the intended meaning.

I have personally seen Humvie, Coyote armored personnel carriers, and A-10 Warthogs badly shot up and run out way past their useful life due to extreme need on the battlefield.

For a long time, the US has been stripping US-based units of their equipment and sending it to the front because the stuff was being used in the war, and was being consumed faster than new units could be made plus old units refurbished. That's a lot of materiele.

Same for Canada.

General Patton noted at the end of WWII that 50% of the tanks were out of service at any one time. That's why a major research project was launched after WWII, headed up by Weibul who "invented" modern reliability analysis based on research at Wright-Patterson Airfield.

All armies will need a break when this military and political disaster is over.

At the same time, it's ludicrous to stretch ourselves so thin we cannot defend ourselves at any moment.

Armies never get a holiday. Why do you think the Yom Kippur War started on Yom Kippur?

Wars break armies. That's what wars do. And that's what armies are for; to be used up. I apologize if that sounds cold hearted.

A brief read of history shows that many conflicts ended, not decisively, but because both sides were exhausted.