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Tuesday, January 27, 2009

Economy Some Light

Posted by on Tue, Jan 27, 2009 at 8:54 AM

Enjoy it while lasts—a rare piece of good economic news.

U.S. home sales registered their biggest monthly jump in nearly seven years in December, as cratering prices began to draw out more buyers and several major housing markets showed some signs of stabilizing.

The 6.5% rise in sales from November was attributed in part to strong sales of foreclosed homes. Economists say it is too early to suggest that broad improvement is at hand, though, and warned that the spring buying season is likely to be sluggish amid growing economic hardship.

 

Comments (7) RSS

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1
These are Bush's good housing numbers.
Posted by god- I miss W so bad !!! on January 27, 2009 at 9:06 AM
2
Other good news was this weekend on the CNN website. Economists say that IF (and it's a big fucking IF) the market does not wander to far below 8000 points this week with all the nasty news that is due out by Friday: The market MAY have found it's bottom floor. (Yes, that is a huge if right now)

But, IF the market has hit bottom that means we may finally start to see the CHANCE, slight as it maybe, of the market going up. And all you little budding economists know, the stock market is considered a leading indicator of what the economy will do several months down the road. (ie. if it starts to go up now that means there could be light at the end of this recession)

But again, it is a huge IF.
Posted by Cato the Younger Younger on January 27, 2009 at 9:06 AM
3
Sales numbers are meaningless without the context of sale price. Do you go out of your way to be stupid on finance Charles?
Posted by You suck. on January 27, 2009 at 9:07 AM
4
Let's state the obvious: cheap homes are always, regardless of market, bought up.

And in this market, all homes are cheap! Get'em while they're hot
Posted by AJ on January 27, 2009 at 9:35 AM
5
What does it mean to "catch a falling knife"?
Posted by tomasyalba on January 27, 2009 at 9:55 AM
6
@5

The trend is your friend until it bends in the end.
Posted by 21st Century Plutocrat on January 27, 2009 at 9:57 AM
7
5
To correctly pick the time when prices are at the lowest point they will hit and get into the market then.
Posted by David Faber on January 27, 2009 at 10:06 AM

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