It is time for a vacation. I'll be overseas starting tonight. I may post once during my two week trip. Not sure if there is a bubble there or not. I will investigate upon my arrival. :-)
Investors must have been dissapointed when WCI Communities of Florida had "preliminary combined tower and traditional gross new orders totaled 261 for the fourth quarter but were offset by a combined total of 270 tower defaults and traditional home cancellations and defaults.” News Press (Hat Tip to Housing Bubble Blog)
There are plenty of solid housing blogs out there, just check out the sidebar on the right side of this webpage.
Bye!
Subscribe to:
Post Comments (Atom)
Posts
you should leave off the comment moderation. i promise we'll be good.
ReplyDeleteNot being stuck with a huge mortage for an overpriced piece of property, which might be resetting soon, allows David to take trips abroad. Smart guy!
ReplyDelete--SSH Anon.
If there is a housing bubble, why do I keep losing bidding wars in upper NW DC. Just lost my third last weekend. Yuck! I am preying for a bubble, but looks like I waited too long.
ReplyDeleteHave a good (and safe) trip David.
ReplyDeleteHave a nice vacation in West Virginia.
ReplyDeleteAlright! Fire Island!
ReplyDeleteI find the following analysis suspect.
ReplyDeletehttp://www.washingtonpost.com/wp-dyn/content/article/2007/01/26/AR2007012600537.html
Given that new home sales in February and March of 2006 were still strong and only started to decline in the spring/summer. Wouldn't sales (i.e. closings) of new homes peak in the Fall and Winter of 2006 assuming it takes at least 6 months from the original contract to deliver a house?
What a suprise, you're dubious of evidence that doesn't support your preferred conclusion. In what universe does it take 6 months to get from contract to closing? And are you really giving up so easily on such a key plank in the bubblehead platform -- that the market began to tank at the end of 2005?
ReplyDeleteBubbleheads are getting desperate. Doesn't look like you're getting the collapse you're praying for; you'll say anything.
Also, you seem to be mistaken about how many months there are from February and March to December.
ReplyDeleteAnon 10:56,
ReplyDeleteWhat analysis is suspect? I'm not sure where you're getting your data from to generate your question.
Also, with new home sales, aren't sales recorded when a contract is signed rather than on closing? Making the time gap between purchase and delivery a non-issue?
My $0.02.
mytwocents,
ReplyDeleteall numbers that don't show prices collapsing are inherently bad numbers.