Home prices up. Mortgage applications up. Consumer confidence up.

According to the S&P/Case-Shiller Home Price Index, national home prices jumped 3.6% in the past year. Prices also climbed 4.4% in the second quarter compared with a 2.8% plunge in the first quarter.

The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2.3% compared with the previous week.

The Consumer Confidence Index rose to 53.5 in August, from July’s upwardly revised level of 51.0, the Conference Board, a New York-based research group that compiles the index, said yesterday.

I do not see it here. Mortgage applications are up due to refinancings. Home prices could be up due to the season. People had to spend some money to get their kids in school. September/October may not be as good. Home sales and prices here are poor.

Question; why does the stock market go up today when automakers report poor sales?

And private employers cut 10,000 jobs in August.


I am sorry, but I can only believe what is happening in my own back yard.

Don’t see it.:wha?:

**PORTLAND, Maine – **A new survey shows that nearly half of Mainers believe they are worse off than a year ago.

Market Decisions’ poll of 400 Mainers was conducted from Oct. 19 to Nov. 2. While 48 percent saw themselves as worse off, only 27 percent expect to be better off in the next year.

But that’s an improvement compared to Oct. 2008. Last year, 57% of Mainers saw themselves as worse off compared to the year before. Only 21% of those surveyed expected they’ll be better off in the next year.

More than half of those polled expect the state and the country to have bad times financially over the next year.

And 57 percent expect periods of widespread unemployment and depression in the next five years.

Home prices up. Mortgage applications up. Consumer confidence up.

Thank your President’s leadership. :smiley:

Like leading 30,000 new troops into Afghanistan?


Like leading the push to give the IRS a 10 billion dollar budget increase to use to fine anyone who doesn’t buy health care products from private, for-profit companies?

I heard an interesting figure today. Since the inaguration of our first President George Washington through George Bush, the government has spent $9 trillion dollars. Obama has spent $3 trillion in less than two years.

This cannot continue.

Run, don’t walk to the bank, withdraw all that silly paper money, buy gold.

Nick, how is silver doing? I wonder if silver coins would be good with us guys who have limited funds now.

Here’s a stat for you…

New-Home Sales Fall to Record Low in July

New Homes shouldn’t be built at all. We have way too much housing inventory in this country.

I think silver is a much better investment than gold. The only problem is you have a lot more to store if you buy $1200 worth of silver instead of gold. Make sure that you buy coins instead of bullion. When the crap hits the fan the gov will be taking away all of your bullion.

In 2009 Silver increased by 62.8% vs golds 32.6%. Silver is still 12% below its all time high while gold is at its all time high.

Buy both, as much as you can afford.

Dat true! Just inspected a two yr old home, never been lived in but kept like new condition with upkeep by the builder. But the fella that bought it got a deal and a half, probably $75K less than the original asking price. Not the first one like this I have done either. Some I have inspected were dropped at least $100K off the starting price. Those prices in my mind were overinflated to begin with but if someone is looking to upgrade now is the time. Local interest rates are around 3.36% and you can get a lot of house now for a lot less money than just 3 yrs ago. You better have excellent credit though and a steady (real) income.

Cash is king in a deflationary environment.

PMs will be worth less if we deflate.

Gold is very close to breaking an all-time high this morning.

Place your bets gentlemen because that’s all it is.