Goddamn Real Estate

[Ed Anger]

The red mist descended on me that day. I almost lost control of my temper.

[Ideologue]

That's astoundingly bad customer service.

[CountDeMoney]

I dunno, I got Comcast to come out the next day and give me 90 days' credit when I told them if they didn't come out, I'd be down in their office the next day and nobody there would be very happy.

[Ed Anger]

That's astoundingly bad customer service.

Par for the course for Associates.

[Ed Anger]

Just thinking about those assholes have spiked my blood pressure. 

[Phillip V]

New-Home Sales Tumble

'Sales of newly built homes fell sharply in July to the lowest level in nine months, heightening worries that higher mortgage rates will slow the housing recovery.

New-home sales fell 13.4% in July from a month earlier to an annual rate of 394,000, the Commerce Department said Friday. That was the steepest drop in three years and sent sales down to the lowest level since October.

The report also showed that June sales were lower than previously estimated, with that month's figure now at 455,000, compared with an initially reported 497,000.

Economists surveyed by Dow Jones Newswires expected July sales to reach 490,000.

The drop in new-home sales came at a time of industry concerns that higher mortgage rates, which effectively raise the cost of buying a home, would scare away potential buyers. The average rate on a 30-year mortgage rose to 4.58% this week, according to Freddie Mac, up from 4.40% a week ago and more than a point higher from the level in May.

Many economists say it is still too early to tell how the higher rates are affecting the industry. But the big drop in new-home sales could add to industry worries that overall sales, including previously owned properties, will slow in coming months. That could slow the overall U.S. recovery, which has leaned heavily on housing as a source for growth as other sectors, such as manufacturing and government spending, have remained weak.'

http://online.wsj.com/article/SB10001424127887324619504579030691873137738.html

[MadImmortalMan]

I'll be happy when the time to close number starts rising. Then we'll know inventories are going up. My problem is that there's nothing available where I want to buy.

[CountDeMoney]

Every time I speak with the management company I'm turning my condo over to rent, they keep asking me if I want to sell it.  Predatory little shits.

[Phillip V]

Return of the McMansion


http://online.wsj.com/article/SB10001424127887323980604579031350928407682.html

[crazy canuck]

What would be considered a mansion size house?

[Tonitrus]

Indeed...my parent's house is larger than 2642 sq ft; definitely not a mansion.

[Ideologue]

Much like Tonitrus, I also hope my siblings predecease my parents and I.

[DGuller]

I'd love to be in a 15 year fixed rate mortgage, but up here you basically can't get anything longer than 5 years.

Really?

[Ed Anger]

I need the extra square footage for my Toaster Studel.

[Tonitrus]

Much like Tonitrus, I also hope my siblings predecease my parents and I.

I dunno if I want it...the entire neighborhood is being gobbled up by rich Asian families and yuppie Chinese real estate speculators.