October 18, 2006
DID PAUL KRUGMAN GET HIS ECONOMICS DEGREE IN THE SAME TYPE BOX I GOT MY DECODER RING?:
Housing start gain may signal slide is over: Latest reading on new home market shows surprise increase in housing starts, although permits fall more than forecasts (Chris Isidore, October 18 2006, CNNMoney.com)
Home building may be ready to shake off its 2006 slump, as housing starts posted the biggest jump since January, according to a government report Wednesday.The report also showed that building permits, seen as a sign of builder confidence, fell more than expected.
But the housing starts number was seen by some as perhaps a signal that home building has hit bottom and is ready for a recovery. At the very least, the market appeared more resilient than many experts had assumed.
Who but an expert could imagine that a country without enough housing would face a protracted housing slump? Posted by Orrin Judd at October 18, 2006 4:36 PM
Total agreement here. With all the tax-breaks for home-ownership, the market won't even start to level off until everyone who wants a house has one. That day is a long way off.
Posted by: Pepys at October 18, 2006 4:51 PMBerneke better lower rates or there'll be a bloodbath starting in January.
I guess we'll have to let President Pelosi handle it.
Posted by: Sandy P at October 18, 2006 4:57 PMSandy, you aren't by chance referring to the dreaded moment the ARMs reset, are you? The caterwauling about those ARMs reminds me of all the folks who said 20-25% subprime Credit Cards would be the ruin of the consumer. While the rates and payments are a kick in the arse, the default rates on those still aren't that alarming.
So it will be with those ARMs. People will find ways to make the payments.
Posted by: Brad S at October 18, 2006 5:17 PMI'm making another run at buying a house. It's kind of a garbage house (an old man went crazy in it!) but I can clean it up and it's dirt cheap.
Posted by: Bryan at October 18, 2006 8:13 PMHow much are you getting for the movie rights?
Posted by: oj at October 18, 2006 8:17 PM20-25% subprime Credit Cards
I don't know about you, but all my credit card companies are still sending me offers of 4.99% interest forever, or 0% for the next year, on balance transfers up to $18,000, usually with no fees, either. I'm thinking that maybe I'll buy my next vehicle by spreading it around on the cards.
Posted by: Raoul Ortega at October 18, 2006 8:52 PMOJ:
The house already makes me think of the George Jones song "He Stopped Loving Her Today."
Priority One will be to get rid of the dank feeling of despair that infuses the place.
Posted by: Bryan at October 19, 2006 12:33 PMWhen The Wife and I were looking for our first apartment up here we visited one place that was so creepy she said: You just know if they sprayed Luminol in here there'd be splatter patterns everywhere....
Posted by: oj at October 19, 2006 12:53 PM