WASHINGTON — More Americans signed contracts to purchase homes in April than the prior month. But the pace of buying is still weaker than last year, as higher prices and relatively tight supplies have limited sales....
Prices are being kept up artificially as fraudulently foreclosed upon homes are either destroyed or kept off the market because housing values undergird bank stocks.
The gain in signed contracts partly reflects the slight decline in mortgage rates and the economic rebound from the brutal winter.
I love that. They toss out the brutal winter as an excuse for this crashed economy, then turn around and holler global warming so they can impose a carbon tax and create a pile of money out of thin air.
But that has put home ownership out of reach for a growing share of Americans hurt by the recession. Would-be buyers have gotten some help in recent weeks from falling mortgage rates....
‘‘It’s the investor and the wealthy individual that’s keeping the market alive. The wealthy buyers in particular are fully engaged now. The stock market is up, and times are good for them.’’
"A strong stock market and better business climate have continued to concentrate American wealth in the top 1 percent of earners."
Homes are Part of a Healthy Economy
The Boston Globe is No Longer Home
It's no longer healthy:
"The Commerce Department said Thursday that the economy shrank at an annual rate of 1 percent in the first quarter, revising its initial estimate last month."
That means they lied! Again!
NEXT DAY UPDATES:
How tightening your home can save you money
I'm going to save money by no longer buying a Globe on a regular basis.
"US consumer spending down 0.1 percent in April" by MARTIN CRUTSINGER | AP Economics Writer May 31, 2014
WASHINGTON — US consumers cut back on spending in April for the first time in a year, taking an unexpected pause after a big jump during the previous month. The results, however, are unlikely to derail an expected spring rebound in the economy.
Been seeing the $ame $hit for five f***ing years now!
Consumer spending, which accounts for 70 percent of overall economic activity, fell 0.1 percent in April, the Commerce Department said Friday.
Which means they will revise it down later, and this dead-in-the-water economy is on auto-pilot. 1% getting richer, everyone else treading water or drowning in the trickle down yacht raise.
The drop was the first in 12 months. But it followed a 1 percent surge in spending in March, which marked the biggest increase in more than four years.
Then why did the economy CONTRACT the last quarter.
You know, one of the things about propaganda is it has to be consistent and believable.
What second-rate talent is the U.S. government employing these days? Getting as bad as all the bad Jewish kid actors in Hollywood.
Why do you think we don't go to the movies anymore? Americans went during the Great Depression; we are not going during the Grand Depression because we have no money to spare, and even if we did, the product is awful. It's crass, it's obscene, it's gross, and it just sucks.
‘‘It is obvious that after an unseasonably colder January and February consumers came out with a vengeance in March,’’ Chris Christopher, an economist at IHS Global Insight, said in a note to clients. ‘‘So, April’s poor showing on the spending front is payback for a strong March.’’
I'm starting to think the payback is also for all the lies about global warming -- until it comes time to explain the $hit economy -- even though the wealthy elite are cleaning up.
Btw, I will REMEMBER THIS the next time I see some fart-mi$ting $hit in my paper (or on the web).
The latest figure reflects reductions in durable goods purchases such as autos and in services such as heating bills.
When it was COLDER than USUAL?
This hack just said in the paragraph above.... aaaaarrrrrggghhh!!!!!!!!!!
What the sentence tells you is PEOPLE RAN OUT of FUEL and FROZE rather than fill up the tank!
While disappointed, analysts say the results don’t change the broader upward trajectory of the economy and predict consumer demand to bounce back in May.
Why would anyone believe liars anymore?
More importantly, why would anyone turn to and quote liars as experts?
An ‘‘improving job market should support stronger spending in coming months,’’ Jennifer Lee, senior economist at BMO Capital Markets, wrote in a research note.
Except we do not have an improving job market; we have a government that no longer counts those they refused unemployment extensions. Pretty good shell game, huh?
Friday’s government report also showed that income rose 0.3 percent in April after advancing 0.5 percent in March. That marks the fourth consecutive monthly climb.
And it all went up to the 1%, folks.
The economy has been generating jobs at a solid pace in recent months, including a gain of 288,000 jobs in April, the strongest uptick in hiring in two years.
I'm sorry, but the repeated bull$hit and omissions are no longer funny!
God I'm sick of government handouts being passed of as reporting.
"Dow, S&P close out May at record highs" by KEN SWEET | AP Markets Writer May 31, 2014
The stock market closed out May on a mostly higher note Friday, sending the Dow and S&P to record highs, despite two somewhat disappointing reports on the US consumer. The Commerce Department said spending unexpectedly fell 0.1 percent in April, its first drop in a year. Economists, however, expect the dip temporary, however. Separately, the University of Michigan’s consumer sentiment index fell more than analysts expected. Lions Gate Entertainment was one of the biggest decliners after it reported 35 cents per share profit, a 70 percent drop from the year before. Sunglasses retailer Pacific Sunwear dropped on a loss warning."
That's where the one-percent are getting it all, courtesy of that Fed printing pre$$, and since you mentioned sunglasses....
"Closeout retailer comes up big in quarter" Globe Staff May 31, 2014
Shares of closeout retailer Big Lots jumped after first-quarter earnings and sales topped views as the company moved to tighten operations. Earnings dropped 18 percent from a year earlier to 50 cents a share, but that still beat analysts’ expectations by 6 cents. The company said sales rose 1.1 percent to $1.28 billion, beating estimates. CEO David Campisi said sales in the period “could have been better,” if not for the severe winter weather that crimped seasonal sales. The company also raised its guidance for the next quarter."
I'm telling you, sure feels like being home when the agenda-pu$hing paper lies to you every day. Don't know what I would do with out them.
Actually, I'm finding that out.