Recovery? What Recovery?
The modest recovery in home prices is beginning to falter, according to data released Tuesday. The Standard & Poor’s/Case-Shiller home price index, a closely watched measure of 20 metropolitan areas, barely rose in September, increasing 0.3 percent on a seasonally adjusted basis. Nine of the cities in the index fell in the month, including Boston,…
I love it when I bring out all the nut cases and DitmasSnark.
**Laughing all the way to the bank with the stock market rally**
Repeated from one of my posts yesterday in LWBS…
Month, Reading, From Peak, YOY, Remark
May-08 194.22 -10.01% -7.74% HEAD FAKE
Jun-08 194.74 -9.77% -7.04% HEAD FAKE
Jul-08 193.70 -10.25% -7.04% HEAD FAKE
Aug-08 193.48 -10.36% -6.61% HEAD FAKE
Sep-08 191.66 -11.20% -7.14% BACK TO REALITY
Oct-08 189.67 -12.12% -7.72%
Nov-08 186.52 -13.58% -8.74%
Dec-08 183.46 -15.00% -9.22%
Jan-09 180.94 -16.17% -9.73%
Feb-09 177.83 -17.61% -10.32%
Mar-09 173.59 -19.57% -11.66%
Apr-09 170.66 -20.93% -12.36%
May-09 171.15 -20.70% -11.88% HEAD FAKE?
Jun-09 172.36 -19.93% -11.49% HEAD FAKE?
Jul-09 173.94 -18.85% -10.20% HEAD FAKE?
Aug-09 174.89 -18.31% -9.61% HEAD FAKE?
Sep-09 174.38 -18.62% -9.02% BACK TO REALITY
Are they properly adjusting for the seasons? Oh well, we now return to the regularly scheduled collapse.
***Bid half off peak comps***
“And come January, record bonuses will be paid on Wall Street.”
Can’t buy homes with restricted stock.
***Bid half off peak comps***
Rising sales in a bear market is bearish news, DIBS. Price drops follow volume at this stage of the bubble cycle. Sales drop before the top of the market and rise before the all-out capitulation.
Official jobless numbers are notoriously cooked as part of the “recovery” propaganda, DIBS.
The stock market is no different than gambling on the strip, DIBS. Completely manipulated and disconnected from economic reality. Bear markets have historically bottomed with P/E ratios in the single digits and dividend yields approaching 10%. The S&P P/E now averages about 130 with a dividend yield around 2%. NO BEAR MARKET IN WALL STREET HISTORY HAS EVER BOTTOMED OUT LIKE THIS!!! NONE!!! Another Lehman-type event, or series thereof, has to happen before we even get remotely close to a REAL recovery. This is an economic depression.
Don’t…don’t…don’t believe DIBS…uhh ha ha ha ha…
Don’t…don’t…don’t believe DIBS…uhh ha ha ha ha…
***Bid half off peak comps***
That is why you gotta love a genious like daveinbedsty. Unemployment claims have gone down because the time period the unemployed can claim benefits is running out week after week. Remember years ago you could only collect 26 weeks and now the government has extended it to 70 plus weeks. The state’s pockets are empty wait till you see the Jan budget! Patterson wants dictorial powers to balance it. Bloomberg is charging us on bottled water and some of you say our economy is booming. Keep working on it. Homes will be worth a million dallars again someday.
Keep shaking those pom-poms, DIBS. Second dip is on the way.
New home sales constitute only 15% of national sales. And the margin of error in this number is significant. Further, I don’t think the stock market is currently saying anything other than the dollar is very weak and fundamentals no longer matter.
And come January, record bonuses will be paid on Wall Street.
New home Sales, announced this morning, beat the estimates. they came in at 430k vs. an estimated 404k and up from a revised previous 405k. New home sales MOM rose 6.2% and were expected to rise 0.4%
MORE IMPORTANTLY, Initial Jobless Claims were 466k compared to expectations for 500k and Continuing Claims dropped from 5,613k to 5,423k, below estimates.
The recovery is well on its way. The stock market has been telling us that for 8 months now.