News of the day 8-12-09

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
News of the day 8-12-09

Recovery eh?

Home Price Declines Accelerate in Second Quarter

“I don’t think we’re at a bottom yet in home prices,” said Scott Anderson, a senior economist at Wells Fargo & Co. in Minneapolis. “There’s also a pretty big shadow supply of houses. People are kind of waiting for the bottom but there’s a pent-up supply out there.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aq5oRHngaU_Q

 

 

mblackman's picture
mblackman
Status: Member (Offline)
Joined: Aug 26 2008
Posts: 4
Re: News of the day 8-12-09

If this isn't a bear market rally... I don't know what is. The similarities with the bear market of 1930 are uncanny... after which the Dow dropped more than 80%....

cannotaffordit's picture
cannotaffordit
Status: Gold Member (Offline)
Joined: Jun 12 2008
Posts: 273
Re: News of the day 8-12-09

 Yes, and home foreclosures jumped 7% June to July.   Sure, the worst is over.    Yeah, right.

investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Re: News of the day 8-12-09

Note: I am seeking more and more articles suggesting and questioning the markets. Is the Rally over? It all started after Bob Prechter's call out of warning  on monday. Just one example.

http://seekingalpha.com/article/155677-2009-is-looking-an-awful-lot-like...

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