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

 
Head2Bunker

User ID: 79523756
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07/27/2021 03:46 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
shocked
Anonymous Coward
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07/27/2021 03:47 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?
 Quoting: BRIEF


1 BR apartment in a quality city is now $1200 to $1500 monthly.

Brief lives around booger eaters.

Figures.
Anonymous Coward
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United States
07/27/2021 03:53 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Prices sky rocketing and sales sky rocketing during a pandemic can only last as long as the big players kept injecting big money.

On the run to way overvalued prices all the people wanting to leave the cities because of the Black Lives Matter armies attacking them all on a daily basis were either stuck or way overpaid like everybody has the last year and a half.

Now the big money has stopped coming in, the city people wanting out are going to become the main drivers. Lots of big money is going flip assets they only hold for a year or so but made massive profit on it because they played the market together to hold people in the cities longer, destroy all those city environments via BLM armies, and screw all the honest people seeking to flee the BLM terrorists.

Our damn FED hold well over a trillion and a half in mortgages. The whole market is fake. They drove it up on purpose as part of the democrat led war on Americans.
DeploraVision ™
You are now an Antenna

User ID: 80468466
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07/27/2021 03:54 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!


Foreclosure avalanche coming.. ahhh

https://imgur.com/a/3fitCaU

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Peepaws

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07/27/2021 03:55 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Where I live, near the coast of Washington in the middle of nowhere, with no commerce or industry for at least 100 miles all around, housing prices went up 27% in one year, according to data from last month. Property, land for building and already built houses are being snapped up.

A few years ago this was an affordable area, but no longer.

I hope housing prices go down here too because it's out of hand and now many people are having a hard time finding or maintaining affordable property. Taxes and insurance were already high so that just adds to it.
Peepaws
Anonymous Coward
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07/27/2021 04:00 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?
 Quoting: BRIEF


Wow! $650 a month, a 1 bedroom where i live is $1200 minimum unless it’s in a bad area or rundown. Meanwhile minimum wage is like 10.50/hour. Crazy!
Reality Czar dodger007

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07/27/2021 04:02 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!


At some point they just become unaffordable to 95% of the market
“In a time of universal deceit, telling the truth is a revolutionary act’
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FJB
humbird

User ID: 73158440
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07/27/2021 04:06 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.
 Quoting: Anonymous Coward 74453227


Good plan
Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria.(John A. Keel)
humbird

User ID: 73158440
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07/27/2021 04:08 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?
 Quoting: BRIEF


Hi Brief. You are on point. Housing has never been more affordable if you go by payments not price.
Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria.(John A. Keel)
Tamaralori

User ID: 71008581
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07/27/2021 04:14 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
Not in San Diego County. My husband is an L.O. for the biggest home builder in the nation and he's been slammed non stop since
early 2020.
California Delegate for President Trump, Evangelical voter
Stop bashing California, there are republicans here.
Jesus' will be done.
Anonymous Coward
User ID: 80485962
Serbia
07/27/2021 04:25 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?
 Quoting: BRIEF


Wow! $650 a month, a 1 bedroom where i live is $1200 minimum unless it’s in a bad area or rundown. Meanwhile minimum wage is like 10.50/hour. Crazy!
 Quoting: Anonymous Coward 71898803


brief hasn't had a foot in reality for some time now

what you have said is the norm
Anonymous Coward
User ID: 79228865
07/27/2021 04:31 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?
 Quoting: BRIEF


But you created an entire investment portfolio with your child labor, you lying hack.

Did you think the coast was clear?

Your lies will follow you forever.
Anonymous Coward
User ID: 80650957
United States
07/27/2021 04:36 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!
 Quoting: Anonymous Coward 80538668


Same in Virginia, I am supervisor for construction services for a major Natural Gas utility company, we can't get enough crews for the workload, been like this since last year around August. There is 50+ Main line installs that havent even started yet.
Anonymous Coward
User ID: 80650957
United States
07/27/2021 04:39 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!
 Quoting: Anonymous Coward 80538668


Same in Virginia, I am supervisor for construction services for a major Natural Gas utility company, we can't get enough crews for the workload, been like this since last year around August. There is 50+ Main line installs that havent even started yet.
 Quoting: Anonymous Coward 80650957


and thats just in this area, we have 8 areas same way in Virginia.
GA Girl

User ID: 78310900
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07/27/2021 04:41 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
New home sales a body can see. The supply chain has everything screwed up.
Pava
Pava

User ID: 62257773
United States
07/27/2021 04:47 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
They buy only few outrageously priced properties in selected areas to keep average price going up...
Anonymous Coward
User ID: 80160045
United States
07/27/2021 04:49 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!




Working in this industry for over 25 years. The home builders intentionally slowed sales down with hopes construction can keep up.

Labor and supply chain disruptions are causing havoc creating massive delays with product deliveries. With that, the sales pace had to be slowed in order to eventually have the construction pace catch up. Sales are still currently limited to a manageable number and will continue into Q3.
CK Dexter Haven

User ID: 78612541
Italy
07/27/2021 04:53 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
No new homes due to ridiculous lumber prices.
 Quoting: Anonymous Coward 78811053


This

A lot of them are stalled mid construction, waiting for lumber availability.
Ballsy

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United States
07/27/2021 05:02 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
In Florida,they avoid this problem of investors buying and then leaving it vacant.If you buy a house, you must occupy the house within a month. I am not sure that it is exactly one month, but the timed is short.
humbird

User ID: 73158440
United States
07/27/2021 05:06 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
In Florida,they avoid this problem of investors buying and then leaving it vacant.If you buy a house, you must occupy the house within a month. I am not sure that it is exactly one month, but the timed is short.
 Quoting: Ballsy


That's only for homestead ers. I have renovated 6 homes here. No one cares how long it takes me.
Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria.(John A. Keel)
Chickenliver

User ID: 80520355
United States
07/27/2021 05:10 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Its talking new home sales. Many major companies stopped selling due to supply side problems. They announced this a month or so ago.
Pre-existing homes are still high. Although that will probably fall as well in the coming months.
Pava
Pava

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United States
07/27/2021 05:23 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
was in Downtown La this morning at LADBS...place was empty...no one picking/dropping plans...felt weird...usually place is packed w/long lines...
oniongrass

User ID: 80365283
United States
07/27/2021 05:38 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.
 Quoting: Anonymous Coward 74453227


All the fun of being in the city is gone, that's for sure. Tense interactions. Reduced freedom. Every present risk of wokesters deciding to take from you.
.
DON'T VAX, PROPHYLAX!

____________

There is no anger in Me: If one offers Me thorns and thistles, I will march to battle against him, And set all of them on fire.

But if he holds fast to My refuge, He makes Me his friend; He makes Me his friend. (Isaiah 27:4-5)
DangerClose

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07/27/2021 05:43 PM

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Re: Breaking...June new home sales numbers are out...crashing.(video)
90% of what the realtors are calling "new" are actually "flipped" homes from '50s-'90s that the flipper did a piss pour job on.

The market is very sad right now.
Grove Street

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07/27/2021 05:48 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
it won't matter much in a year..
Grove

And this is why we can't have nice things.
StayCurious

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07/27/2021 05:49 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


This is only slightly true. A few are buying, but it's a small portion of the homes available. Most are waiting for the massive decline in prices, which is coming. Most people won't be able to borrow money in 2022. Housing market mania is over. People never learn from history...
Deplorable Doomfan45

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07/27/2021 06:32 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!


Yep, tons of price drops where i live in NoVA on both new builds and existing homes, and LOTS of contracts falling out.
doomfan
Anonymous Coward
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07/27/2021 06:34 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
Of course the new home sales are low. There isn’t s
enough materials or labor to build the homes.
Anonymous Coward
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07/27/2021 07:01 PM
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Re: Breaking...June new home sales numbers are out...crashing.(video)
There's no inventory, so there aren't any sales.
Jungleboogie

User ID: 76648271
Canada
07/27/2021 07:35 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!


Simple supply and demand catching up. Material costs up: new building starts to go down.


Market crash would be brutal for the over-extended house of cards type multi-mortgage holders that paid way too much for crap.

Those types are usually in the 40 to 50 age range, hard to start over by that age.

If things got back to normal and people starting moving back to the big cities, the suburban and rural market would collapse FAST.

And it's not like the stock market where you can be out in 5 minutes.
Embrace the cognitive dissonance.





GLP