Posted on 08/16/2012 7:32:16 AM PDT by whitedog57
US Initial Jobless Claims rose last week to 366,000 from a revised (upwards) print of 364,000. Essentially, jobless claims are back to mid January levels.
Housing starts fell to 746,000 in July from a revised print of 754,000 in June.
But if you look closely at the data, 1 unit detached housing starts are flat (blue) while multifamily (5+) starts continue to accelerate (gold).
We see a similar picture with building permits. Multifamily permits (gold) are skyrocketing. Single unit starts are increasing, but multifamily is the name of the game.
So, we seem to be returning to a renter rather than ownership society.
Bloomberg Consumer Confidence fell from -41.9 to -44.4. This isn’t a good trajectory!
And after the poor Empire State index came out yesterday, the Philadelphia Fed Business Outlook Survey Diffusion Index General Conditions was released today at -7.10.
Summertime blues indeed!
(Excerpt) Read more at confoundedinterest.wordpress.com ...
pResident Barak Hussein Mountain Dew Obama Comacho:
“My plan worked!”
The Democrat party is held together by the common glue of sneakiness and manipulation. Each Democrat feels that he/she can use the other Democrats because he/she is more sneaky and manipulative.
Can you imagine a poker game with four Democrats playing? After the first hand, there’s 20 aces on the table, the money’s all gone, and the four are blaming the Republicans for the cheating and theft.
It’s Obama’s fault.
Unless you can buy a foreclosure that is in fairly good shape that you can repair yourself, buying a “bargain” house is not such a wise decision. The price may look affordable, if you can qualify for a mortgage, but the city and county taxes eat you alive.
Be sure of one thing. They will always go up, because every governmental entity is running out of money and city and county officials are certainly not going to cut their salaries, lay off their family members and friends, or cut their pensions and benefits. You are their cash cow.
Be sure to ask your realtor to tell you what the past tax bill has been, and when the new appraisals will kick in before you buy any house.
Fits in nicely with Agenda 21 planning.
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