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Breaking...June new home sales numbers are out...crashing.(video)

 
Bloody Peasant!
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07/27/2021 10:49 AM

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Breaking...June new home sales numbers are out...crashing.(video)
[link to www.zerohedge.com (secure)]


June home sales have catered. New home sales DOWN 20% YOY to 2011 levels.

Against expectations of a 3.7% MoM jump, new home sales plunged 6.6% MoM in June (and worse still May was revised lower from -5.9% to -7.8%)





Last Edited by Bloody Peasant! on 07/27/2021 10:50 AM
This business will get out of control. It will get out of control and we'll be lucky to live through it.

-Admiral Josh Painter

Bloody Peasant
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07/27/2021 10:51 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Funds are buying properties and leaving them vacant to drive up the price.
Bloody Peasant!  (OP)
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07/27/2021 10:52 AM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Funds are buying properties and leaving them vacant to drive up the price.
 Quoting: Anonymous Coward 78152662


How long will they hold turds just to lose money? I guess as long as they get free money from the fed. A new Era of zombie homes
This business will get out of control. It will get out of control and we'll be lucky to live through it.

-Admiral Josh Painter

Bloody Peasant
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07/27/2021 10:54 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
not where I live
Anonymous Coward
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07/27/2021 10:54 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
that was fast
Anonymous Coward
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07/27/2021 10:55 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Inventory still low, wait until fall….
Anonymous Coward
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07/27/2021 11:05 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
I think once forbearance is over, a lot of foreclosures will hit the market. That will soften prices.
Anonymous Coward
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07/27/2021 11:09 AM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
A regular person can barely afford a one bedroom apartment now much less a house.
Bloody Peasant!  (OP)
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07/27/2021 02:14 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
I think once forbearance is over, a lot of foreclosures will hit the market. That will soften prices.
 Quoting: Anonymous Coward 39516942


This is true. There are currently over 2 million mortgages that are 90+ days delinquent.
This business will get out of control. It will get out of control and we'll be lucky to live through it.

-Admiral Josh Painter

Bloody Peasant
Bloody Peasant!  (OP)
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07/27/2021 02:17 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
not where I live
 Quoting: Anonymous Coward 39516942


Hasn't hit prices yet. Lag time for when time to sell increase meets price reductions. Every market will be different just like last time where some markets were hit first hard and fast, while others lagged by 12-18 months before they saw a crash. Example, so cal and Vegas hit first. Seattle and the PNW prices didn't crash until a year later.
This business will get out of control. It will get out of control and we'll be lucky to live through it.

-Admiral Josh Painter

Bloody Peasant
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07/27/2021 02:18 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
NEW homes.

Nobody is building NEW homes because of the ridiculous lumber prices.
humbird

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07/27/2021 02:24 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
NEW homes.

Nobody is building NEW homes because of the ridiculous lumber prices.
 Quoting: Anonymous Coward 80463755


Exactly!!

Existing homes still selling well with higher supply. Prices staying up. a few longer days on.market.

Still.a.seller's market.
Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria.(John A. Keel)
humbird

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07/27/2021 02:26 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Way fewer foreclosures coming than after the 2008 crash.

And they won't hit the market for 400/days
Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria.(John A. Keel)
Anonymous Coward
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07/27/2021 02:28 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
No new homes due to ridiculous lumber prices.

Existing homes are too expensive for average Americans and banks are halting lending due to the oncoming credit squeezes.

America is toast.

China has won and hasn't even fired a shot yet.

The whole western financial system is broken on purpose and will shortly collapse in on itself.

It will take the whole u.s. army to quell the unrest that will come at some point.
Anonymous Coward
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07/27/2021 02:31 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
If they ever end the eviction moratorium and forbearance programs the market will be flooded with foreclosures that will still be overpriced.

People can't get new loans to buy them up due to the credit squeeze thats already began.

Allows foreigners to buy with cash on hand.

You'll be renting from your Chinese overlords.

You can thank our government for opening up china under that dirt bag Nixon and all the cronies that followed him.
Anonymous Coward
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07/27/2021 02:38 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
I imagine those that wanted to move out of the densely populated areas when this plandemic began have already done so. I myself sold my home in the Twin Cities suburbs and bought a nice secluded home out in the countryside last year. Got it all done inside of 60 days, from the moment I decided to do this to the day I began moving into the new place.

My motivation to move, and to do so quickly, was because of this plandemic, and the riots in Minneapolis last year. When I saw the police abandon their precinct and run like cowards from the rioters, I knew that it was time to bug the hell out of there.

The only one I can count on saving me from harm is me.

I'm guessing home sales in the dense neighborhoods will continue to decline. Those neighborhoods are not where you want to be at this point in time.
RestoreTheAnger

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07/27/2021 02:54 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
It’s called a bubble for a fucking reason…
Sorry, that message is no longer in the database.
BRIEF

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07/27/2021 02:58 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
A regular person can barely afford a one bedroom apartment now much less a house.
 Quoting: Anonymous Coward 74729496


A one bedroom apartment around here is $650/month, which means you should make $650/week...

That's $16.25/hr for 40 hrs

$13/hr for 50 hrs

Teenagers don't need to rent apartments, child labor laws prevent it, so why are you making a child's wage?

Last Edited by BRIEF on 07/27/2021 02:58 PM
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
BRIEF

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07/27/2021 02:59 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Most households have two incomes also...
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
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07/27/2021 03:01 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
[link to www.zerohedge.com (secure)]


June home sales have catered. New home sales DOWN 20% YOY to 2011 levels.

Against expectations of a 3.7% MoM jump, new home sales plunged 6.6% MoM in June (and worse still May was revised lower from -5.9% to -7.8%)




 Quoting: Bloody Peasant!


That’s “carshing” here.
Anonymous Coward
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07/27/2021 03:04 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
impossible to get moratge.. companies are requiring 30% down

they want to be well protected from what they know is coming
Anonymous Coward
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07/27/2021 03:06 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Isn’t there about to be a huge wave of foreclosures after the 31st?
Anonymous Coward
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07/27/2021 03:07 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Fraud, like the stock market. Zillow adds $40K to an average house's value one day because...

Even the sheep know the bubble is ridiculous. sheep
Green Eggs & Ham

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07/27/2021 03:08 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Funds are buying properties and leaving them vacant to drive up the price.
 Quoting: Anonymous Coward 78152662


How long will they hold turds just to lose money? I guess as long as they get free money from the fed. A new Era of zombie homes
 Quoting: Bloody Peasant!


we should make them eat their losses
Your perspective changes when you're living through the apocalypse.
Anonymous Coward
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07/27/2021 03:09 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Not in TX! I work in the new home industry and we are as busy as we have ever been! And I was in the industry back in the early 2000's in SoCal too!
Anonymous Coward
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07/27/2021 03:21 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
I think once forbearance is over, a lot of foreclosures will hit the market. That will soften prices.
 Quoting: Anonymous Coward 39516942


This is true. There are currently over 2 million mortgages that are 90+ days delinquent.
 Quoting: Bloody Peasant!


What's the demographic on that 2 million?
.
Anonymous Coward
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07/27/2021 03:22 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Way fewer foreclosures coming than after the 2008 crash.

And they won't hit the market for 400/days
 Quoting: humbird


Why 400 Days? Here in Texas they steamroll through foreclosures at the 4 month mark
Anonymous Coward
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07/27/2021 03:30 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Assuming a 1500/Month Mortgage payment.

90 days delinquent = $4,500.

2 million of those...

4500 X 2,000,000 = $9,000,000,000

Somebody needs to go all-in on the craps table, choose red and pay that bill.

C'mon, Mama needs a new pair of shoes...!

Get-Some...
Don Draper from Nantucket
Silver Bitchezz

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07/27/2021 03:38 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
No new homes due to ridiculous lumber prices.

Existing homes are too expensive for average Americans and banks are halting lending due to the oncoming credit squeezes.

America is toast.

China has won and hasn't even fired a shot yet.

The whole western financial system is broken on purpose and will shortly collapse in on itself.

It will take the whole u.s. army to quell the unrest that will come at some point.
 Quoting: Anonymous Coward 78811053


hesright
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
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They don't need to burn the books they just remove em!
Anonymous Coward
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07/27/2021 03:39 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Why will people buy in fall when delta will be killing ppl why do you think that
Anonymous Coward
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07/27/2021 03:43 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Funds are buying properties and leaving them vacant to drive up the price.
 Quoting: Anonymous Coward 78152662


How long will they hold turds just to lose money? I guess as long as they get free money from the fed. A new Era of zombie homes
 Quoting: Bloody Peasant!




There are companies now locating local lawn services online to attend to these empty homes.

Some companies are calling stateside from canada. similar to Truckers calling a load board to find work.





GLP