| Up and Down News on the Housing Front; Foreclosures and June New Home Sales Numbers Both Up |
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In more news of the up and down nature of the U.S. housing market, we learn from the Los Angeles Times that sales of new homes jumped over 23% from May, 2010 to June, 2010. That's the upside. On the downside, those numbers are still 16% less than June, 2009 numbers. Furthering the glass-is-half-empty analysis, FHA reports that mortgage delinquencies are still hovering around record highs. As long as foreclosures continue and delinquencies continue, the housing recovery is still down the road. Stay tuned to more updates from NAILTA on the U.S. housing market. |
Comments (1)
Up and Down
1Wednesday, 28 July 2010 17:24
Anthony Louis Affatati, Sr.
As long as the banks drag their feet and the Federal government continues to enact antagonistic laws we the citizen will be left where we are. When the banks were bailed out one of the stipulations that should have been included was that lenders would negoiate dilignetly with the homeowner who was upside down and devise a fiscaly sound plan to bail the consumer out. Instad we open the treasury, gave them the money and they payed themselves instead of relending the money to the consumer to assist them in staying solvent. Now the Banks are devising ways to charge additional fees, continue on their foreclosure march and thumb their noses at the executive branch of governemnt.Hello capitalism . Good bye middle class.