Seems the latest excuse for every economic metric declining is due to the weather. GDP adjusted from 3.2% to 2.4%, Consumer Semtiment falling below 80 for the first time in months, and now home sales.
While everyone is blaming the weather for the anemic economy, there is much more to be considered. The underlying fundamentals for a strong housing market simply aren’t there. A steady market is probably the best we can expect.
For years I have shared with you that the economy can't recover until housing recovers, and neither will recover until the job market recovers. While planning ahead, it became obvious that the solutions offered by the progressive Obama administration would hinder not help an economic recovery.
Just when you think you've heard it all, along comes 'job lock'. For the preceding five years rational adults have been subjected to notions so outrageous that they know no reasonable person will believe them, because as Thomas Sowell described them, they are merely fact free liberal rhetoric.
To say the year in housing ended with a whimper would be an understatement. But wait a minute, isn't the job market improving with only a 6.7% unemployment rate? If more people are working doesn't that translate into more people buying homes?
Do these sales numbers indicate we have turned a corner in housing? Not in my opinion. We seem to be stuck in the perpetual headed in the right direction mode, made famous by the running in place Obama economy.
Over one million people are about to lose their extended unemployment benefits which would send the unemployment rate plunging when they are no longer counted. Wow what an amazing job of lowering the rate!
Isn't it odd how 7 of 8 jobs created have been part time since the 30 hour mandate in Obamacare was announced? Odd how the economy hasn’t recovered? Odd we were told the economy was at risk of going into recession if the government shutdown but jobs and retail sales went up during the shutdown? Isn't it odd that. . . .
Keep an eye on consumer confidence now that President Obama has shattered what remained of the trust people could place in him.
Rising from the ashes to a modest recovery, jobs remain the key to housing. The problem is the recovery has been based upon fleeting and temporary influences and not upon solid, identifiable organic growth through natural market forces.
Barack Obama trying to blame the poor economy on the shutdown was like Al Capone blaming the St. Valentines’s Day Massacre on Valentine’s Day.
The Case Schiller home price report came out this past week and was up over 12% again but this is not the good news as it appears.
Obama 2010- “If you like your doctor you can keep your doctor. Like your insurance? You can keep your insurance, and your cost will go down on average by $2,500.”
Things are seldom as they appear. It was reported this month in USA Today : “Spending on U.S. construction projects rose in July, led by strong gains in housing and nonresidential projects.”
The purported housing recovery was based upon the manipulation of interest rates by the Fed, and inventory manipulation by the withholding of millions of foreclosures from the market, and not upon organic growth.
Friday, President Obama said Republicans are spending too much time trying to repeal Obamacare, adding "that won’t create jobs, that won’t help the middle class, and that won’t build ladders to the middle class."
Now comes indoctrination through government programs compliments of a lawless Obama administration. The Imperial president rewrites settled law without a peep from the purported caretakers of the people, the media.
Please allow me to share a little secret with the Harvard eggheads, ruling elite, and otherwise unfamiliar with the real world White House policy makers; the economy can’t recover until housing recovers, and neither can recover until the job market recovers.
While closing twenty-one U.S embassies (effectively placing shiny objects to distract the media from the NSA, IRS, & Benghazi scandals), Obama found time, while golfing for seven hours, to prepare his Fannie and Freddie speech in Arizona on August 6.
Have no fear Bernanke is here! Again!
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Tuesday April 15th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Monday April 14th, 2014 | John Ransom