Experts wrong again and again and again
Homes for sale in Everett and Everett real estate in general just took another “unexpected” drop. Are you getting as tired of the “experts” being wrong, wrong, wrong again and again as I am.
This broken record is not unexpected to me. For almost a full year the number of sales of new homes has dropped. There was a minor blip in October / November 2009 from the new home tax credit but all that did was suck purchases from December and January and put them into October/November. Month after month the “experts” have been wrong. I am whining but why can’t I get a job where I can be paid well and be wrong over and over.
In my business and I am sure yours too, you get paid to be right. Well new home sales PLUNGED to historic lows in January. Just to show you how wrong the MSM (main stream media) is Bloomberg wrote on February 24th that housing would be up. Here is a quote from the story. “Purchases increased 3.5 percent to an annual pace of 353,000 new homes, according to the median estimate of 71 economists surveyed by Bloomberg News. Demand slumped 7.6 percent in December, the month after the incentive (the tax credit) was originally scheduled to expire.”
That’s right 71 over paid economists predicted a completely wrong scenario. What really happened was New Home Sales plunged to 309,000 the lowest level since the US Commerce Department has kept records starting way back in 1963.
How does this affect Everett real estate and homes for sale in Everett in general? Well think about this, if you can’t sell or will not buy a home then the economy in general will not recover.
If consumer confidence doesn’t go up we will never see the “good times” again.
Right now as I write this Obama and the Liberals are arguing about health care. Mr. Obama stop the BS and get us some Jobs. Nancy Pelosi claims that 4 Million jobs will happen if we just pass the Obamacare health bill. What hogwash!
If congress passes a bill that lowers payments for healthcare do you think that will increase the number of jobs? The litany of bad news goes on and on.
- Inventories went up to a 9.1 month supply. That’s from an 8.1 month supply in December and a 7.9 month supply in November.
- In January the median price fell again by 2.4% compared to a year ago. And a year ago was a disaster.
- In January, new home sales plunged 35% in the Northeast, fell 12% in the West, and decreased 10% in the South; they rose 2% in the Midwest.
- Investors will note that new home sales, historically, correlate to an economic expansion.
- The “unexpected” drop in new home sales should (but probably will not) raise questions about the efficacy of Obama’s new home buyer credit. You know the one that robs sales from the near future just to inflate the current numbers.
My friends please vote all incumbents out. Get rid of the incompetents that we have running this government. How will we improve the market for Everett real estate and homes for sale in general? JOBS, JOBS AND MORE JOBS Mr. Obama.
Jim Johnson and comments are always welcome
Everett Mortgage on Line
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