Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (260406)	7/13/2010 12:03:12 PM
From: tejek	Read Replies (2) \| Respond to of 306849

Not really. Those are fumes. None of the hard core metrics are recovering. Most are actually deteriorating. We'll know what will happen based on what we see in 2H'10. I disagree. Don't listen to the media; look at the numbers. The only thing that is not happening is job creation...but overtime and the hiring of temps are both increasing. In the stronger markets, housing is improving snd showing some price appreciation. In most weaker markets, housing has stabilized. Rail shipments are up; so is transocean shipping even as the Baltic continues to flounder because of ship overcapacity. Lending is increasing albeit slowly. The LIBOR rate is solid....conducive to lending. The ISMs are over 50 which suggests expansion. The economic indicators are heading up. Three companies reported last nite in three different sectors......all were positive, beat expectations and increased forward guidance. Corps are sitting on a ton of cash. Global macro: Europe is not as bad as once thought, China is engineering a soft landing and the rest of the BRIC are booming. We're experiencing a U bottom, not a V bottom. I think we are very close to finishing the bottom portion of the U and the next leg will be up. Its always darkest before the dawn. You heard it here first. ;-)

To: RetiredNow who wrote (260406)	7/13/2010 1:59:04 PM
From: tejek	Read Replies (1) \| Respond to of 306849

To whit........then next phase of the housing recovering has begun.........to more expensive housing. Southern California home sales edge up in June By ELLIOT SPAGAT AP Business Writer (AP:SAN DIEGO) Home sales in Southern California climbed to an 11-month high in June as gains in pricey, coastal areas offset declines in less expensive regions that had been fueling the recovery, a research firm reported Tuesday. There were 23,871 new and existing homes sold in the six-county region last month, up 2.6 percent from 23,262 homes in the same period last year and up 7.2 percent from 22,270 in May, MDA DataQuick said. It marked the highest June sales total since 2006 and the most for any month since July 2009. Homes sold for a median price of $300,000 in June, up 13.2 percent from $265,000 during the same month last year but down 1.6 percent from $305,000 in May. The numbers show that sales are shifting to the coast from the foreclosure-battered Inland Empire, which was drawing bargain-hunters in droves a year ago. Foreclosures accounted for only 33 percent of existing home sales last month, down from 45.3 percent a year earlier and down from an all-time high of 56.7 percent in February 2009. "The market was wildly out of kilter a year ago. Now it's just somewhat out of kilter," said John Walsh, president of MDA DataQuick. MDA DataQuick said the June results reflect "a slow crawl toward normalcy." Andrew LePage, an analyst at the San Diego-based firm, said a key test will be if sales hold up as federal and state tax credits for homebuyers expire. Orange, the most expensive market in the six counties surveyed with a median price of $445,000 in June, registered a 15.7 percent gain in sales from the same period last year. San Bernardino County, the least expensive market with a median price of $160,000 in June, showed a 7.5 percent drop in sales. Sales slipped 1 percent in Riverside County, another relatively affordable market with a median price of $210,000. In another sign that higher-end markets are leading the recovery, 20.8 percent of all sales last month were for at least $500,000, up from 19.3 percent the same period a year earlier. Sales in ZIP codes representing the priciest one-third of Southern California accounted for 29.6 percent of all existing home sales, up from 27.8 percent last year. MDA DataQuick said sales in higher-end markets would be even more robust if loans were more available. "The single-biggest issue is still mortgage financing," Walsh said. "Rates may be at record lows but that doesn't mean much if the lender won't qualify you." Copyright 2010 The Associated Press. news.ino.com