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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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 Posted: Sun Dec 24, 2006 3:47 am Post subject: Has the US Housing Market Bottomed ? Data Says NO ! |
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Act I. Scene - a fifth grade math class in a small farm town in MO.
'Good morning class.'
'Good morning, Mr. Scambuster.'
'What state we are in and what are we known for, Freckles?'
'Why, Missouri, sir. When shrills trained at Serve-the-Crooks League that you told us about try to tell us that this is so and that is so we turn around and ask, 'Show Me, buster.'
'Class, today we will learn how to apply the arithmetic that you have learned to the real world problems. Remember, when we took a field trip to the city and we saw lots of homes and condos going up everywhere? Remember, Tommy pointing to us that his uncle Kirk was building some of those homes? I also explained to you the process of getting permits to build homes, etc., on that trip. Well, today we will apply the simple arithmetic of addition and subtraction to this real life subject. I will draw a little table of the process of building new housing units.'
For the Year Ending In September 2006:
Number of Housing Units added in a year (Supply) = 2,100,000
Increase In Number of Housing Units Occupied in a year (Demand) = 1,200,000
For the Month of November 2006:
Number of New Housing Units For Which Permits Were Filed = 1,500,000
Number of Housing Units Started = 1,600,000
'OK, Tommy, you see the first two numbers in the table, what do these numbers mean?'
'People were building lot more homes than what the demand was there, sir, by 900,000 in just one year. Grandpa Mitchell says, sir, it's no use building them homes and have them lie empty. He told uncle Kirk that it is plain stupid to keep building more when the ones he had built haven't sold and some are still sitting empty. Sir, how long have they been building more homes than the need?'
Full article http://www.marketoracle.co.uk/Article173.html |
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Quinn
Saving Enthusiast
Joined: 06 Feb 2005
Posts: 181
Cash Points ££ 2817.02
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| Posted: Sun Dec 31, 2006 5:16 am Post subject: |
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| The US housing market decline has failed to impact on the UK thus far, imagine if it actually bottomed and started to rise again ! |
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