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Thread: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

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    New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    U.S. Housing Recovery Failing to Build Momentum

    'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

    Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

    June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.


    New-Home Sales Tumbled in June - WSJ


    Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by DA60 View Post
    /snip

    so much for the 'it's the weather' excuse.
    Well, it is really hot and humid now. Wait until September.
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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by DA60 View Post
    U.S. Housing Recovery Failing to Build Momentum

    'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

    Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

    June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.


    New-Home Sales Tumbled in June - WSJ


    Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
    Who needs a new home with all those used one for cheap?

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    But Jobless claims have fallen to a all time low since 2006....

    No, those Housing numbers have to be wrong.

    I think what they meant to say that new home sales GREW a récord 81.1 percent in one month

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Of course, two days ago:

    U.S. housing turning the corner, inflation creeping up | Reuters

    Housing resales have hit an eight month high (sending homebuilder stocks up). But I guess when one wants to look at a half-full glass and pretend its empty, one misses the big picture.

    And god knows where you are getting your goofy jobs numbers.

    June jobs report: Hiring is strong and wages are rising - Jul. 3, 2014
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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by Threegoofs View Post
    Of course, two days ago:

    U.S. housing turning the corner, inflation creeping up | Reuters

    Housing resales have hit an eight month high (sending homebuilder stocks up). But I guess when one wants to look at a half-full glass and pretend its empty, one misses the big picture.
    Resales have little to do with new home sales. You can sell the same home 3 times in a month and it helps the resale figures but does nothing for new home sales.

    New home sales create construction PLUS manufacturing of all those appliances and heating/AC systems and all the other goodies that go into new home constructions.

    And god knows where you are getting your goofy jobs numbers.

    June jobs report: Hiring is strong and wages are rising - Jul. 3, 2014
    I got those numbers from that 'goofy' organization called the Bureau of Labor Statistics...household survey

    Table A-9. Selected employment indicators

    4th and 5th lines from the bottom.
    Last edited by DA60; 07-24-14 at 04:00 PM.

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by DA60 View Post
    U.S. Housing Recovery Failing to Build Momentum

    'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

    Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

    June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.


    New-Home Sales Tumbled in June - WSJ


    Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
    Discouragingly bad for America.
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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by DA60 View Post
    U.S. Housing Recovery Failing to Build Momentum
    Aren't you the same guy who argues against having overheated housing sales?

    I just can't keep up with con argument.

    Lets try some historical perspective:

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Not sure what the point of this thread is. Are you using this data to argue that we're on the verge of another recession? Or just hammering on people that are arguing that we are recovering from the previous recession?
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

    Quote Originally Posted by DA60 View Post
    Resales have little to do with new home sales. You can sell the same home 3 times in a month and it helps the resale figures but does nothing for new home sales.

    New home sales create construction PLUS manufacturing of all those appliances and heating/AC systems and all the other goodies that go into new home constructions.



    I got those numbers from that 'goofy' organization called the Bureau of Labor Statistics...household survey

    Table A-9. Selected employment indicators

    4th and 5th lines from the bottom.
    Resales are still creating significant economic activity though.

    That part time /full time thing is odd. A definite anomaly. If the trend continues, thats not good, but I'd wait for future months and to see how that number gets revised. One anomalous datapoint is probably not a great indicator of anything.

    I bet you've been cheering the Obama administration on since 2010 as that number has been steadily falling though, right?




    The Part-Time Employment Ratio: A Curious Anomaly in June
    Many Trump supporters have lots of problems, and those deplorables are bringing those problems to us. They’re racists. They’re misogynists. They’re islamophobic. They're xenophobes and homophobes. And some, I assume, are good people.

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