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home sale #'s bode ill for anyone selling

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C

chanster

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the new home sales and existing home sales were of a depressionary levels.total inventory #'s ballooned to over 11 months. beach properties from panama city to destin have 30-40% downside and vacant lots have 50-60% downside. i talked to a broker in destin today that said 2 out of 3 applicants getting rejected for mortgages
 
Last edited:
brandon12 said:
the new home sales and existing home sales were of a depressionary levels.total inventory #'s ballooned to over 11 months. beach properties from panama city to destin have 30-40% downside and vacant lots have 50-60% downside. i talked to a broker in destin today that said 2 out of 3 applicants getting rejected for mortgages
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How does the depressionary levels calculate. Is it the number of homes per month selling or the number of homes per month selling vs. the number listed?

Is the depressionary levels based on the depression of 1837, 1893 or 1929?
 
1929 despression. its the total annualized # of 407k that is back to levels i believe OF the 1970's when the pop was 40% less. AND WHO KNOWS I MIGHT EVEN BUY ONE OF YOUR HOMES FOR PENNIES ON THE $.
 
brandon12 said:
1929 despression. its the total annualized # of 407k that is back to levels i believe OF the 1970's when the pop was 40% less. AND WHO KNOWS I MIGHT EVEN BUY ONE OF YOUR HOMES FOR PENNIES ON THE $.
Click to expand...

I think your data is off by about 1,000% on the annualized rate.

I have a home you can buy right now for 200 pennies on the dollar.
 
Things will be tough going forward. Everybody best get into a defensive position. I wish you all the best.
 
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