Bad Home Sales Numbers

Quote from CaptainObvious:

Here's the story. 2007 is a disaster for home sales.
http://news.yahoo.com/s/ap/20070424/ap_on_bi_ge/home_sales

This quote is huge:
"He said that the median price for homes sold in 2007 would fall by 1 percent to 3 percent, which would be the first price decline for an entire year on the Realtors' records, which go back four decades."
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lmao.

You have to consider that 'estimate' is from David Lereah, the Tokyo Rose mouthpiece of the National Association of Realtors.

Takes those 'estimates' and ramp them up 3-4x.
 
Quote from Joab:

LOL

Bad weather now that's what I call grasping for straws.

Beware folks
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I was going to go out and buy a new car last month, but when I opened my front door, the weather was bad, so I went back inside and haven't opened the door since.:p
 
sales werent great at all and the dow is off 1 point, im sure next month sales will be up by 3% and the market will rally 1%.

Soon as everything looked like it was headed down it propped right back up.
 
Quote from S2007S:

sales werent great at all and the dow is off 1 point, im sure next month sales will be up by 3% and the market will rally 1%.

Soon as everything looked like it was headed down it propped right back up.
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Nope.

Look at Target, U.S. Steel, and Defense Contractors.

Look at metal prices.

This is going to be a sticky decline.
 
Joab: Obviously you're short and believe strongly in your position (and hoping for a hard selloff).

This market isn't up because good news. Its up because there was no-one left to sell any significant size into it, so shorts had to cover. On the other hand, the dollar is shit, and believe it or not, the market is actually -down- when adjusted for currency differences.

Our market is actually cheap (or fairly valued) when you account for the weakness of the currency, despite the runup.
 
Weather? They are running out of spin tactics I see :p

Soon the NAR will have articles in every newspaper stating what a great buying opportunity this is. The best buying opportunity of all time!!! Really!!! When prices go down every year for the next 5 years in the hot markets, they'll just claim its getting better every year. F-tards.
 
Quote from scriabinop23:

Joab: Obviously you're short and believe strongly in your position (and hoping for a hard selloff).

This market isn't up because good news. Its up because there was no-one left to sell any significant size into it, so shorts had to cover. On the other hand, the dollar is shit, and believe it or not, the market is actually -down- when adjusted for currency differences.

Our market is actually cheap (or fairly valued) when you account for the weakness of the currency, despite the runup.
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scriabinop23

The last time you argued with me you lost... AAPL price did what I projected.

I recommend you heed my warnings on the importance of these numbers. :)
 
Quote from scriabinop23:


This market isn't up because good news. Its up because there was no-one left to sell any significant size into it, so shorts had to cover. On the other hand, the dollar is shit, and believe it or not, the market is actually -down- when adjusted for currency differences.
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Is this market up?

I agree that it's down even more on currency-adjusted terms.
 
Quote from Joab:

scriabinop23

The last time you argued with me you lost... AAPL price did what I projected.

I recommend you heed my warnings on the importance of these numbers. :)
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heheh... look at it now. I bought 90s... Look where I am.
:)
 
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