Monday, September 20, 2010

HOUSING STATS: Can anyone get it right?

I tell you as a blogger and concerned homeowner,  following the housing market reports is like trying to use a yo-yo or slinky with no prior experience.  All you see is a mass of tumbled stings, intertwining to make  a confusing mass of money woes.   All I know is that as a homeowner prices fall.  In foreclosure there are messes of legal mumbo jumbo, and in economics - well,  we seem to be in depression or at the minimum a lengthy recession with only glimpses of light here and there. 

Here are some of the headlines from today and past few days,  let's see what you think.   

Homebuilder Confidence Holds at Lowest Level in a Year as Tax Credit Ends  Confidence among U.S. homebuilders in September unexpectedly held at the lowest level in more than a year, showing the housing market remains depressed following the expiration of a government tax credit.

Lennar Reports Third-Quarter Profit as Margins Widen Lennar Corp., the fourth-largest U.S. homebuilder by revenue, reported a better-than-estimated third-quarter profit as margins on house sales improved and orders fell less than some analysts projected.

Economic Reports This Week The House Financial Services Committee will conduct a hearing on the state of the international financial system as it relates to the Dodd-Frank Act (Wednesday). The Senate Banking Committee will conduct a hearing on the Securities and Exchange Commission’s response to R. Allen Stanford’s suspected Ponzi scheme (Wednesday). A House Financial Services subcommittee will conduct a hearing on the limitations of the Securities Investor Protection Act (Thursday).

The Senate Banking Committee will conduct a hearing on the future of the Federal Housing Administration (Thursday).

Recovery Spreads FitfullyThe Federal Reserve said Wednesday that its survey of economic conditions in the central bank's 12 districts, which covers mid-July through August, found "widespread signs of a deceleration compared to preceding periods."

But the picture is uneven: The Fed report, called the "beige book," noted that factories, farms 

This Week's Reports Could Keep the Rally in Check - DailyFinance: "Tuesday alone brings new reports on housing starts and permits and the latest policy statement from Federal Reserve Chairman Ben Bernanke. Investors will also be contending with new- and existing-home sales figures, durable goods orders, leading indicators and weekly jobless claims this week.'" My sense is [housing] is going to be weak, and it's going to cause the market to sell off,' Kenny Polcari, managing director at inter-dealer broker ICAP Corporates. 'As we saw last week, housing is tough, and it continues to be tough.'"

Read also these blogposts I posted this weekend and today:

Dollar Falls / Euro 
US stock futures higher

Underwater mortgages strain health

ARab Housing Crisis

 All Eyes on Housing

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