Good News

I saw the latest numbers for home sales on TV today. Up again a few percentage points.
I don't know up from what, but it did mention that it included about one-third repossessed or foreclosure homes in the growth!

Now if that is growth in home selling, it sounds very much like the economy we had before this recession!

Selling paperwork on credit instead of building new homes for sale.

When are we to learn that false positivity mouthed in a precarious way, like we do for the two great mid-east wars, only leads to more problems later?

REALIZE IT NOW---WE HAVE HUNDREDS OF BANKS AND DEVELOPMENT COMPANIES READY TO GO BROKE YET--IF THEY DON'T GO BROKE THEY WON'T BE ABLE TO MAKE ANY HONEST MONEY FOR YEARS!!!!

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Bonkers
dawn69's picture
Submitted by dawn69 on Tue, 09/01/2009 - 12:55pm.

Well, we don't agree on much, but this would be one of those rare instances in which I think you might have some common sense after all (all in jest).

The increase in home sales is misleading when a large portion are foreclosures. However, we have to 'move' the foreclosures before we can really see an upward turn in the housing market. Like a company that's gone bust using a liquidation house to 'move' inventory and recoup (pennies on the dollar) a portion of the original investment.

My hope is that we will learn from our mistakes.Material things have taken too much importance in our lives and now we reap the consequences of immediate gratification and desire vs. waiting, working, and saving for something we want or need.

Unfortunately, regardless of home sales, I don't think we'll make any economic progress until all non-secured loans are paid. That's going to be hard to do when 10% are unemployed.

But, what do I know other than kids and martinis?

"I either want less corruption, or more chance to participate in it." - Ashleigh Brilliant


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OK dawn
Submitted by Bonkers on Tue, 09/01/2009 - 5:10pm.

But I think you missed my point.

It was: The lieing about circumstances so as to appear to be better!

I know they do it on TV with commercials all of the time, but our media doing it is a bad sign.

The constant barrage nowadays by many individuals always saying everything is wonderful, be happy, be positive under all circumstances, doesn't teach our youth much about reality!

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