Housing Sales Up for the First Time in 3 Years

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	Housing Sales Up for the First Time in 3 Years

DanaGarrett

7-29-2009 10:31 PM

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DanaGarrett says:

Alas, more bad news for conservative Republicans and Libertarians. It seems that those Obama administration financial incentives for home purchases have increased housing sales for the first time in three years. Funny how those government investments in the economy that aren't supposed to stimulate the economy actually do.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/24ad3f73-e2d0-4dd5-9198-334986de170c/9C735B07-6C5F-4586-8C44-BF4DC656BA70/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html" href="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html" style="font-size: 11px;">www.dollarsandsense.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html"><DIV>New house sales in the US jumped by 11 per cent in June, providing some of the strongest evidence yet that the market has bottomed out after being savaged for three years.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html"><DIV>There are increasing signs that the combined impact of falling prices and low mortgage rates, along with aggressive government incentives, is driving people back to the market and Âstirring sales.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html"><DIV>The monthly rise was the sharpest in nearly nine years, far exceeding economists' expectations, and followed a revised increase of 2.4 per cent in the previous month. House sales rose to an adjusted annual rate of 384,000, the department of commerce said.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dollarsandsense.org/blog/2009/07/new-home-sales-rise-sharply-in-june.html"><DIV>"[This is] more evidence that a bottom is forming in the housing market, with new home sales confirming the signal provided by other housing data," said Alan Ruskin, a strategist at RBS Greenwich Capital. </DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9C735B07-6C5F-4586-8C44-BF4DC656BA70/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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