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Existing Home Sales Unexpectedly Fall 1 Percent

Existing Home Sales Unexpectedly Fall 1 Percent

thereugoagain | Jan 22, 2013 10:12 AM ET Unexpectedly .....is a relative term ....if an idiot looks at the unemployment figures and chooses to believe the government bs that was shoveled out during an election year ...I guess he or she didn`t expect it .... If someone listened to all available sources ....many of which, such as Jim Rogers, have predicted 2013 would be a bad year because of the cooked books reporting of last year ....than you might already be expecting some of these economic events.

tarandfeathers | Jan 22, 2013 10:19 AM ET Unexpectedly? For who? The Real Estate agents and the banks that want to keep pumping home prices so they are not left holding millions of worthless overpriced homes? or the Federal Reserve that is keeping home prices up by keeping interest rates at 0% of such a long time in order to help these parisites? I can not wait for the day that interst rates go up and watch the price of homes especially in New York melt like snow in the sun!

BrianBallsofSteel | Jan 22, 2013 10:19 AM ET Jim Rogers...ROFL...

siggy | Jan 22, 2013 10:25 AM ET tarandfeathers, You got that right. Here in NY thousands of people specially in banking sector getting laid off, and many companies are moving the heck out to lower tax states. The whole US economy is artificial and the time of reckoning is coming.

Earth_Scientist | Jan 22, 2013 10:27 AM ET The explanation is easy: PRICES ARE TOO HIGH. Median price of $180k vs. median income of $40k/year = 4.5x . It should be more like 3x, and certainly not more than 4x, for the borrower/buyer to have any hope of ever paying it off.

tarandfeathers | Jan 22, 2013 10:31 AM ET That is what you get with Gentrification and a Mayor like Bloomberg that likes higher property values so he can increase the taxation. Never has any NYC mayor done more harm to this city.Hopefully he won`t try to run for a fourth term like FDR.

Earth_Scientist | Jan 22, 2013 10:33 AM ET I realize that this article focused on used homes, but there is also trouble in the new homes arena. We have been looking at upgrading, to a better used or new home, and we are shocked that >80% of the new homes have HOAs. This is a terrible trend. Anyone who has ever dealt with a townhouse/condo association knows what I mean. You can`t scratch your head without someone from the HOA gestapo telling you that you can`t scratch that way without facing a fine. HOAs moving into single-family homes is the next disaster, I predict. Not for me, absolutely not, never.

hopeNchange | Jan 22, 2013 10:33 AM ET In the Chicago market,, houses (mostly condos) under $200K are moving. Homes over $500K are also moving, but slower. In the middle, very little action. IMO, condos are selling to the young and retirees, and McMansions are still moving for those with jobs and/or money. The middle class, the majority of America, is lost in the middle.

tarandfeathers | Jan 22, 2013 10:35 AM ET And don`t all of you agree that prices will remain high as long as our Federal Reserve keeps leaving interest rates at 0.000001%?

countdown_to_facebook_ipo | Jan 22, 2013 10:39 AM ET Oh. Unexpectedly. Damn. I`ll bet CNBC computer keyboards have an ASCII key assigned to the keyboard such that you type one key and "unexpectedly" is added to any text.

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