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Analyst David Rosenberg<\/a> notes that despite all the economic stimulus <\/a>in the United States, people still aren’t buying homes.<\/p>\n So you can imagine what will happen when that stimulus is removed.<\/p>\n Breakfast With Dave<\/a>: We could really care less if it was a frostier than normal December; it’s not as if it snowed in July (especially in the south where sales dropped more than 7%). We have the most stimulative fiscal and monetary polices ever concocted to support a recovery in the U.S. housing market, in addition to record affordability levels and the long reach of the FHA near 0% financing, and yet new home sales collapsed 7.6% MoM to a mere 342,000 units at an annual rate. This was the fifth weakest month in the past 45 years — sales of completed homes, in fact, were at their lowest levels ever and down 38% from the already-depressed levels of a year ago.<\/p>\n The inventory backlog, as was the case in the resale data, jumped to 8.1 months’ supply from 7.6 months in November, to stand at its highest level in six months. This is sure to exert downward pressure on housing values. In addition, as a sign of how tough it is to lure buyers to the showrooms, it took builders a median of 13.9 months — by far a record and 50% longer than a year ago — to sell a completed unit. During the boom times, it took a mere four months to make a sale upon completion.<\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n Analyst David Rosenberg notes that despite all the economic stimulus in the United States, people still aren’t buying homes. So you can imagine what will happen when that stimulus is removed. Breakfast With Dave: We could really care less if it was a frostier than normal December; it’s not as if it snowed in July […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-242161","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/242161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=242161"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/242161\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=242161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=242161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=242161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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