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
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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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.