From the NY Post:
Home sales rise at fastest pace since March — but market set for worst year since 1995
Sales of previously occupied US homes rose in November to their fastest pace since March with home shoppers encouraged by a wider selection of properties on the market, even as mortgage rates mostly ticked higher.
Existing home sales rose 4.8% last month, from October, to a seasonally adjusted annual rate of 4.15 million, the National Association of Realtors said Thursday.
Sales accelerated 6.1% compared with November last year, representing the biggest year-over-year gain since June 2021.
The latest home sales topped the 4.1 million pace economists were expecting, according to FactSet.
Home prices increased on an annual basis for the 17th consecutive month.
The national median sales price rose 4.7% from a year earlier, to $406,100.
Despite increasing in November and October, home sales are still running below last year’s pace, when they sank to a nearly 30-year low.
“Looks like we won’t match last year in terms of the annual total, so it will be the lowest home sales since 1995,” said Lawrence Yun, the NAR’s chief economist.
The US housing market has been in a sales slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. A shortage of homes for sale has helped prop up prices, which as of last month are up 50% nationally since 2019.
Worst year since ’95, but price to income was much better in ’95. Housing today is a sign of wealth. Look to Tuckerton or Bridgeton for a potential bargain.
Second!
Ten 462
Eddie,
Instead of Bridgeton maybe look for houses in Bridgerton, a Netflix fantasy land where historical English royalty are fully DEI compliant. You can binge-watch the show during your holiday break.
Talking about shows – Zombie House Flipping is a good one. Except that most of these flips are in Fl and TX.
Have a Happy Christmas and a Merry Chanukah all!
My wife was watching some new series on HGTV the other night, it was such piss poor house flipping that I was shocked they’d stoop so low to even show it on TV. It wasn’t even that bullshit where they show the TV host doing a little work, but behind the scenes you had decent contractors, this was total DIY garbage, unfiltered.
Happy and Merry to you and your family as well. Thank you so much for this forum, for allowing us to vent, rant, discuss, posit, ponder and debate! :)
Happy Holidays to all.
Q for those who are in finance. This guy does a bunch of videos.
Is he a clown or on point?
https://youtu.be/1CFKqKfm6X0
Merry Christmas/ Happy Hanukkah to all. Peace.
Merry Christmas
grim says:
December 24, 2024 at 12:57 pm
Have a Happy Christmas and a Merry Chanukah all!
To all a ….
https://www.instagram.com/reel/DDhak1-I0yE/?igsh=NTc4MTIwNjQ2YQ==
Honda + Nissan (+ Mitsubishi) = Fail
Merry Christmas and Happy Chanukah!
Merry Christmas and Happy Chanukah (hopefully with lots of sufganiyot) to everyone.
Merry Christmas and Happy Hanukkah to all who celebrate! Hope everyone is having a relaxing day filled with peace, love, & joy
Grim, why would Honda+Nissan be a fail?
They could keep the two brands within the same company while cutting company costs
Stay home i’m working. You drunk fools are keeping me busy.
Merry post Christmas. Fyi, credit card debt is now at $1.2 trillion. Are there no prisons? Are there no work houses? The poor law and treadmill are in full operation, I presume?
Sure, they are one and the same. Helps keep the profits up.
https://apnews.com/article/prison-to-plate-inmate-labor-investigation-alabama-3b2c7e414c681ba545dc1d0ad30bfaf5
Honda might benefit from Nissans experience selling Body on frame trucks to sell in the US market and Nissan might benefit from use of Honda’s hybrid powertrain in some of it’s vehicles.
grim says:
December 25, 2024 at 6:02 am
Honda + Nissan (+ Mitsubishi) = Fail
Fast: Mastercard says preliminary numbers are in , and sees consumer strength, overall spending up slightly from last year, which was not expected. It’s all good. Forget everything you thought about, spending, prices including house prices, mortgages etc. It is all out the window. Money really does grow on trees.
i love how low sales = weak housing market. if prices are up – its not so weak?
If Nissan and Renault couldn’t get adequate economies of scale in platforms, why would Honda Nissan? In addition, Honda and Nissan sell similar vehicles in the same geographies. Honda already sells basically the same car twice, once as Honda, another time as Acura. What are the odds the US consumer wants it twice more, third option Nissan, fourth option Inifiniti?
Unless Honda thinks its a lack of distribution rather than product superiority that holds its volumes back. Doesn’t sound accurate.
Nissan is more or less ready to disappear from the industry after the collapse of its alliance with Renault. Subscale, inadequately differentiated products with no significant advantage in any dimension of cost or quality. I have to suspect that the Japanese government is pushing Honda to do this. Honda is twice as big as Nissan and many times more profitable. Would only make economic sense if Honda was allowed to take a chainsaw to Nissan, keep a few bits and pieces that are worth keeping. But that sounds the opposite of Japanese business behavior. Honda to milk all of Nissan’s existing models, only replace them with Honda’s own new models re-skinned? But I suspect Nissan would see further sales drops doing re-skinned Hondas. And Honda typically doesn’t work a lot with external partners.
For his part, Yardeni said he began talking about a “roaring 20s” scenario in 2019, and it was never based on assumptions about policy. “What I’ve learned over the years is to respect how well the economy does despite Washington,” he said.
Key spy-world scientists argued Covid-19 was caused by a lab leak.
The dominant view within the U.S. intelligence community’s analysis of Covid-19’s suspected origins concluded with “low confidence” that the virus had emerged when it leapt from an animal to a human. A Journal investigation shows that the disagreements among intelligence experts over what should be included in the report ran deeper than is publicly known. Michael R. Gordon and Warren P. Strobel report on the scientists at spy agencies who believed that the intelligence directorate’s review didn’t tell the whole story.
Link for the roaring 20s post.
https://www.wsj.com/finance/investing/the-u-s-needs-a-productivity-miracle-it-might-just-get-one-c1f4f8de?st=AVJmLC&reflink=article_copyURL_share
No One: There seems to be a lot of Nissan Rogues on the road. Just saying.
The Nissan-Renault association failed for two reasons in my opinion.
1. Quality of the Nissan Branded vehicles suffered immensely.
2. Europeans have proven time and time again that they have no understanding of the US auto market.
Honda + Nissan (+ Mitsubishi) = Fail because the chinese communist party has a 4 dimensional strategy. Ownership of commercial markets, ownership of political markets and control, ownership of societal influences, and ownership of data created in the societies of their purview.
Is bigger than that. They are getting their hinds kicked by cheap chinese ICE/EV cars. China is selling cheap and its prices are likely being made lower by the criminal world’s money laundering strategies that bring in imports to sell at cost or lower than cost to launder money.
The Japanese automakers are failing because they lost their cheap car bread and butter 3rd world foreign market they dominated since the 70’s; when their marketing strategy of importing into those countries and selling really cheap rebuilt used japanese cars they manufactured undercuted the 1st/2nd world manufacturers newly built market and created brand loyalty.
The reality will be that outside of the 1st world, the chinese will control the automotive markets. Whatever tech our ex-afrikaners Hugo Drax brings into china for his cars will be stolen away. You can see the lines percolating from the ground of what the future holds. The senility ramblings of OrangeTurd allude to it.
Greenland is runned by ~60,000 native eskimos. China already offered to buy an abandoned WW2 US military base and build ports. Panama was a province of Colombia until the US financed an independence movement to be able to build the Canal.
The chinese have built a port on both the Atlantic and Pacific side of it, along with ports in El Salvador, Nicaragua, Peru and others that where approval was easy to get with latin america’s corruption history. When I say ports, I mean physically active commercial port with a covert chinese intelligence/military component built in to use when needed. So yes, china is surrounding us, just like we surround china.
The bigger question is if china makes a move on Taiwan, is OrangeTurd is going to do anything about it?. Question of timing is key, I foresee some social disorder event where there is going to be a Tianamen Square type massacre by US Military/National Guard/Police. If the Taiwan fiasco happens after that and OrangeTurd fights back against china I foresee internal support for the military collapsing back to Vietnam levels.
Will lose this one, because OrangeTurd wants to play in the Totalitarian NFL Pro equivalent playground, when we are the equivalent of 13 y/o Woody Allen in that playground. Our playground where we are the NFL pros is the liberal democratic society playground.
I have/ had 13 cars so far – including everyone in the family.
3 Nissans, 4 Hondas, 2 Toyotas , 1 VW, 1 Hyundai.
Not the best choices, but economical.
I hope everyone had a good day yesterday. Some predictions for 2025:
1) Wayne Gretzky becomes the governor of the newly adopted U.S. State of Canada.
2) We build a mega-military complex in Greenland equipped with cutting edge technology advancements.
3) Panama violates canal treaty agreements allowing us to seize control of operations.
Arbitrage Trading Example:
Society is crumbling.
I was in Pret a Manger & a homeless man came in & scooped all the sandwiches on display & nicked them in front of everyone.
No one did a single thing.
They just stood and watched.
Not me though. I chased after the man.
I was able to catch up to him easily because I do Parkrun.
He begged me not to call the police.
I didn’t. I offered him a job.
This man showed ingenuity by noticing a loophole in the legal system and capitalising.
I offered him £75 a piece to go into coffee shops to steal the sandwiches for me.
Guaranteed income for him. Cheap sandwiches for me.
Every single person in that Pret stood by and watched a business opportunity sail by.
What has happened to London?
( ) ( ) ======D – – Merry Christmas to the Radical Left Lunatics, who are constantly trying to obstruct our Court System and our Elections,” Trump wrote. “They know that their only chance of survival is getting pardons from a man who has absolutely no idea what he is doing.”
“Also, to Governor Justin Trudeau of Canada, whose Citizens’ Taxes are far too high, but if Canada was to become our 51st State, their Taxes would be cut by more than 60%,” Trump wrote.
I forgot to mention a Ford I had as a college student. Best investment ever. Bought it on a deal for $2000 and sold it when I graduated for $2400!
My point is Hondas and Nissans are go to brands for self made people going up the ladder. Just like nobody cares that a Jaguar or a Land rover are Indian companies, the brand is different from the company and Honda and Nissan will do just fine, if not better after the merger.
Another example – Mars. So many brands / revenue streams under one umbrella.
( )( )==D – Trump – – Saves – – Christmas
Honda + Nissan still < Toyota. Good for buying a second-hand QX80 as the prices will go down.
ICE cars from Chinese are very poorly built for cheapos, no premium labeling yet. EVs are another level. China will dominate that ex-USA.