Archive for housing market

Hey Marsha Blackburn, these people can't "live with a lot less gov't. than what they thought they needed."


marsha marsha marsha

Rep. Marsha Blackburn (R-Ignorant Fool):

"People are probably going to realize they can live with a lot less government than what they thought they needed."

There it is, your "reinvented" Republican party, always reaching out to Americans with that big, white helping hand.

Maybe Marsha, Marsha, Marsha should have taken a peek at the number of posts on the devastating effects the GOP government shutdown is having on this country, the reporting by newspapers and other online publications on how more and more Americans are struggling. It's a little staggering, but to Blackburn and her buddies... meh.

Here are but a few of the headlines out there:

And that's just for starters. Pretty appalling, huh?

But to Marsha, all of that is good news.


Existing Home Sales Soar to Highest Level Since 2009 #BlameObama


blame Obama 2

Via a Fox Biz email alert. And hey, who would ever doubt Fox? I mean other than their own executives.

The National Association of Realtors reports sales of existing, single-family homes jumped 6.5% in July from the month prior to an annualized rate of 5.39 million units, handily topping expectations of a 5.15-million rate. The reading was the highest since November 2009 as the U.S. housing market continues recovering.


Home builder sentiment surges, NY manufacturing sector revs up in June


blame obama

Darn that Fox Business, sending me upbeat economic news alerts like these! Don't they know they're supposed to rip reports like these to shreds and go negative at every turn? Someone over there didn't read the memo:

The NAHB/Wells Fargo Housing Market index surged to 52 in June from 44 in May, easily topping forecasts for 45. This is the first time the index has been above 50 since April 2006, suggesting more homebuilders view conditions as favorable than those who see them as poor.


The New York Federal Reserve's regional manufacturing gauge jumped to 7.8 in June from -1.4 in May, easily beating expectations of zero. Readings above zero point to expansion, while those below indicate contraction.



Unemployment claims fell to lowest level since '08; House starts highest since '08; Stocks at 5 year highs #BlameObama


blame obama

Via a Fox Biz news alert or three:

New claims for U.S. unemployment benefits fell to 335,000 last week -- the lowest level since January 2008 -- from an upwardly revised 372,000 the week prior. Claims were expected to fall to 365,000 from an initially reported 371,000.

U.S. housing starts jumped 12.1% in December from November to an annualized 954,000-unit rate, the highest rate since June 2008. Permits rose 0.3% to an annualized rate of 903,000 units.

BREAKING MARKET NEWS: Data Spark Rally on Wall Street; Stocks at Five-Year Highs

If only those inept Democrats weren't in office, we'd see some upward movement in the economy, dammit!

Oh wait.


U.S. unadjusted unemployment down to 7.0% in October, adjusted declines to 7.4%


The last time I posted Gallup unemployment numbers, barely a nibble (Gallup: Unadjusted Unemployment at 7.3% in Mid-October). Will this new report get anyone's attention?


Seasonally unadjusted unemployment of 7.0% is the lowest Gallup has recorded since it began collecting unemployment data in January 2010. It is also more than a full point and a half improvement over the October 2011 rate, when unadjusted unemployment was 8.4%. The size of the workforce, which can influence employment rates, was little changed, at 68.3%, from 68.2% in September.

Coincidentally, private hiring jumps, unemployment claims fall, consumer confidence highest since February 2008.

Blame Obama.

H/t: Nicole Sandler


Gallup: Unadjusted Unemployment at 7.3% in Mid-October. Also, housing starts surge in positive sign for economy


As I write this, Rev. Al Sharpton is discussing the Reuters piece below on his MSNBC show "Politics Nation". The numbers can change, of course, but it's still a plus for President Obama.

Even the adjusted 7.7% number is an improvement and great news. Via Gallup:

U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup's seasonally adjusted unemployment rate is 7.7%, also down from September. October's adjusted mid-month measure is also more than a percentage point lower than October 2011.

And here's the report from Reuters:

(Reuters) - Groundbreaking on new homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction and supporting the wider economic recovery.

Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, beating even the most optimistic forecasts on Wall Street, Commerce Department data showed on Wednesday.

Of course, Republicans will say that Obama skewed the numbers.

H/t: @BenOSU66


Housing Market Continues to Heal as Home Prices Rise Again


Good news, good news. Funny how the talking heads miss all this good news.

It's a steep upward climb, but home prices continue to gain ground, according to the widely followed S&P/Case-Shiller Home Price Indices released Tuesday.

Nationally, property values inched up more than 1 percent in the second quarter, while both the 10- and 20-city composites the indices track saw month-over-month gains of more than 2 percent. It's the first time all three readings showed positive annual growth since 2010.

Only the Charlotte, N.C. and Dallas, Texas metro areas saw a slowdown in their annual price appreciation rates.

"We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change," said David Blitzer, a spokesman for S&P, in a statement. "The market may have finally turned around."