Biz

Housing Market In Trouble

RECORD-LOW NUMBER OF AMERICANS BELIEVE NOW IS THE TIME TO BUY The U.S. housing market is in real trouble … again.  People simply aren’t making enough money to realize the American dream anymore, and it’s about to drag home sales (and values) back into another downward spiral. According to Fannie…

RECORD-LOW NUMBER OF AMERICANS BELIEVE NOW IS THE TIME TO BUY

The U.S. housing market is in real trouble … again.  People simply aren’t making enough money to realize the American dream anymore, and it’s about to drag home sales (and values) back into another downward spiral.

According to Fannie Mae – the government-run mortgage behemoth – a record-low 64 percent of Americans believe “now is a good time to buy a house.” That’s down from 70 percent just two months ago.

“2015 will likely not be a breakout year for housing,” a Fannie Mae bureaucrat said. “The deterioration in consumer attitudes about the current home buying environment reflects a shift away from record home purchase affordability without enough momentum in consumer personal financial sentiment to compensate for it.”

Which is fancy talk for “growing numbers of people can’t afford to buy houses anymore.”

This website has consistently pointed out the flaccidity in the housing “recovery.” And for those of you educated in one of South Carolina’s government-run schools, flaccidity is not a good thing.

One wants a recovery that is, to quote Sir Mix-A-Lot, “long, strong and down to get the friction on.”

Related posts

Biz

South Carolina Workforce Stalled As Union Threat Rises

Will Folks
Biz

Bidenomics: Inflation Hits 19.5 percent

Will Folks
Biz

Another Boeing Whistleblower Turns Up Dead

Will Folks

13 comments

Some guy September 8, 2014 at 9:05 pm

” … a Fannie Mae bureaucrat said.”

Don’t hold back. Tell us what you really think. (Even the most green J-school grad would flag this as a pandering comment. But that’s what your “news” is all about, isn’t it?)

Reply
SC Political Digest September 9, 2014 at 10:02 am

Frank Raines and Barney Frank, should be in jail together, sharing the same frankfurter.

Reply
Limbaughsaphatkhunt September 8, 2014 at 10:54 pm

By all means let’s not talk about the 1% or the fact the rich are hoarding their wealth and by way of congress and state houses…making sure it stays that way.

Or are you all still buying into the capitalist “fair play” bollocks?

Reply
SC Political Digest September 9, 2014 at 10:01 am

Why were ALL incomes, especially the middle class, rising, with jobs and opportunity FOR ALL, abundant, in the Bush years???

Why did it all dry up in late 2008, and has not come back?

Reply
Native Ink September 10, 2014 at 7:52 am

Hey, guys. Let’s all pretend 2008 wasn’t a Bush year! That was fun. Now let’s drink some more of this bitter-tasting Kool-Aid! Pretty soon we’ll all be flying on a UFO to heaven!

Reply
euwe max September 9, 2014 at 4:49 am

Money pit in a recession? Great idea!

Reply
SC Political Digest September 9, 2014 at 9:59 am

The only reason housing sales ticked up in 2012 and 13, was because people – who could wait no longer- were fire-selling their homes. Taking HUGE losses. When you have a MISERABLE -Obama-Depression – economy, real estate is devalued, but the price of gas and food (essentials) skyrocket.

Obama has made a Freaking, long-lasting mess of our nation. And by not Slapping the $#!* out of democrats and their Liberal-Tarian appeasers, like FITS, w/ those facts, you are just as responsible..

Usually, you expect droves of Dumb@$$ Obama-pologists to come on here and tell us how it’s Bush’s fault, or it’s been going on for years…but you are liars and fools, emboldened by too many Liberal-Tarians who think they are superior, because they hate everybody, D and R.

We need to clean house of democrats, before we can resolve this mess, and heal this damaged nation….like it or not, that’s the facts, fail to rid us of Ds, and you are THE PROBLEM, as mach as the America-haters, bigots and racists of the left, who are destroying us..

Reply
FastEddy23 September 9, 2014 at 10:54 am

Yeah, don’t hold back :>)

Reply
Native Ink September 10, 2014 at 7:49 am

LOL. I’d bet you’d give your right arm to change history so that the Great Recession started just AFTER Obama took office. Nope. Sorry. This country fell apart under Republican control, and no amount of self-delusion is gonna change that.

Reply
SC Political Digest September 10, 2014 at 10:02 am

It’s been SIX years, you IGNORANT Dumb@$$. A good president acts to end a recession in SIX months.

Reply
Rocky September 9, 2014 at 10:26 am

Historically refinance booms are followed by a downturn in housing activity, until those who refinanced are ready to move forward and buy a new house. Usually takes two years. So typically, since the refi boom lasts 12 months, there’s a down year. That would be 2014. I rather suspect in many markets 2015 will see an increase in sales, not a decline. Real wages are infact growing in many parts of the country, and property values stabilized in many markets – or appreciating. So the gloom and doom is a little overblown.

Reply
SC Political Digest September 9, 2014 at 11:19 am

What about the billions homeowners lost by fire selling their homes?…That is wealth that is gone forever, and hurts already struggling families – hit by job losses- for years to come.

You are dangerous, because someone is feeding you manufactured, agency-created misinformation to shield your failed lord-god Obama.

You wax on w/ excuses alluding to “typical” market conditions.” You ignorant B@$t@rd. there is nothing typical about the last six miserable years. You F*#ked up and you F*#ked up bad. There is NO F*#K!*ng recovery as long at the anti-American, Bigot, and business-chicken-choker is in the White House…So STFU, Dumb@$$…your messiah is polling at 38%. Only D*#n fools buy your stupid Bull-$#!t, and most of them cannot read…

Reply
RogerThatChief September 10, 2014 at 11:51 am

It doesn’t help that the people who are of typical “first time homeowner age” (like myself) are struggling with tons of student debt, and poor job prospects. They can’t afford to buy a house and won’t be able to for a long time. Rental homes are where it’s at!

Reply

Leave a Comment