Bearish Bob Toll: No One Wants to Look 'Like a Schmuck'
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump…
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump will last another two to three years, at a conference in New York last week. “What do I want to buy a home for and next year be looking at 10 percent less asset?” Economists, meanwhile, incorrectly predicted that the index of pending home sales would actually fall slightly in April. Either way, no one’s taking the news as a sure sign that housing is on the rebound, or that there’s going to be a substantial dent in the 5 million or so unsold homes on the market, or that the foreclosure rate is going to take a nosedive anytime soon.
U.S. Economy: Pending Sales of Existing Homes Unexpectedly Rise [Bloomberg]
Photo by david.
margarita. I stand corrected. Like I said above, a very, very slow week when we’re focused on spelling corrections. Too hot today for pizza anyway.
How ’bout a lively conversation on recessed lighting or granite countertops to get things moving???
Maybe prices in Bed Stuy???
Either the What has been studying the rules of grammar or 9:37 is an imposter.
Is a “margherita” a liquefied pizza?
10:34…we’ve seen a large increase in those readers that just don’t understand the sarcasm and facetious comments. It was brought about by the increased readership stemming from the New York Magazine article and its low-brow crowd readership.
Historically April sales always shows an increase over March so that doesn’t mean anything. What we need to look at is sales for the same period 07 and 08.
10:25, little slow picking up on sarcasm?
slightly positive piece of news—the index of pending home sales rose 6.3 percent in April
But pending sales were down year over year, which is how these things are usually measured. It makes sense that April would be higher than March which is usually higher than February. Just another lame attempt to spin the data.
I think I might prefer a nice cold air conditoned bar. Pitchers of sangria or margheritas in this weather. Nowhere in Boerum Hill where the power might go out again.
talk about morons- how are you, guest 10:07. Immune? Your memory must begin at 2006. And lay off the renters- they’re paying your mortgage- that is, if you’re smart enough to have any.