Kenneth Rosen, of the Fisher Center for Real Estate at UC Berkeley, and Lawrence Yun, of the National Association of Realtors, discuss whether the housing recovery is stalling.
Yun is so clueless:
Airtime: Tues. Jun. 9 2009 | 2:26 PM ET
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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June 29th, 2009 at 6:15 pm
I think the housing market does not appear to have brightened in any way. Home sales still lag well behind the home sale numbers of a year ago.Reports indicate the number of foreclosures available for sale will increase in coming months.
I think the situation would deteriorate even further since
*Job losses have reached such a high rate that has not been observed in the last 50 years.
*There Is No Demand
*Since May, Mortgage Rates Have Gone Up
*Too Much Supply
* Option ARM – The Next Wave of Default
* Market Psychology
Recently read an article on a similar premise. Is the housing market improving
June 29th, 2009 at 7:19 pm
Lawrence Yun and Jim Cramer should be locked in a room and forced to admire each other’s housing bottoms.
Stop all this nonsense and just let the bloody thing fall. The true housing crisis was the absurd run-up in home prices during the bubble. This is simply a sweet return to sanity.
June 29th, 2009 at 7:53 pm
Yun is simply a ’snake oil peddler’ employed by the NAR.