Comments on: Home Sales Following Cash-For-Clunkers Trajectory

By: Greg

Greg — Thu, 24 Jun 2010 17:07:32 +0000

Seems to me that this was totally expected, though maybe not the exact numbers. I expect that very few people, who were not already in the home buying market, became interested in buying just because of the credits.

Most of the people using the credit were likely already in the market, soon would be, or otherwise borderline. So it makes perfect sense that sales under the credit would come at the expense of later sales. Things will bounce back to whatever level soon enough, probably in the fall (since summer isn’t so hot for home sales anyway.)

By: Sam L.

Sam L. — Thu, 24 Jun 2010 14:00:48 +0000

Worst of all, this was totally unexpected. Nobody could have foreseen… Women and children worst affected.

By: mesaeconoguy

mesaeconoguy — Wed, 23 Jun 2010 22:17:56 +0000

The home buying/selling process has changed dramatically for the worse. It is now practically impossible for documents to be conveyed in a timely manner, and there may be new HUD/Fannie Mae restrictions on things like holding title in trust which, because trusts are state-designated entities, invites a legal dispute.

This has slowed down the process considerably.

By: morganovich

morganovich — Wed, 23 Jun 2010 18:48:54 +0000

this is a more convincing new low than cash for clunkers was.

http://calculatedriskimages.blogspot.com/2010/06/new-home-sales-may-2010.html

also worth noting: prices were down 9.6% from a year ago, and both the april and march home sales numbers were adjusted down.