*Title ...let's see...how about THE WORST IS OVER!
NEW YORK (CNNMoney.com) -- The value of U.S. homes grew on a monthly basis in May for the first time in nearly three years (me..break out the champagne!), according to 20-city index released Tuesday.
The month-over-month increase was 0.5%, according to the report from financial data company Standard & Poor's and economists Case-Shiller. It was the first increase in the monthly index since July 2006.
On an annual basis, home prices in the 20 cities fell 17.1%, but it was the second straight month that the year-over-year decline lessened.
*Yeah, this type of shit pisses me off. You got Ben Bernanke who couldn't fight his way out of a wet paper bag.....and is oN FILE, YOUTUBE whatever saying the things he said when he said them...while guys like Peter Schiff were laughed at...he's a JOKE! SAME BOOB is going to plan our way out?
HOW CAN ONE ASS have so much power over all of us? How cool is that? NOW what we really need is to give the FED.....MORE POWER! haa
Did you read the 72 page report from zero hedge I posted link to? You know it was damn hard getting a stapler through it......
We have, in best case scenario 5 YEAR supply of homes.....We have a shitstorm of homes being held off with moratorium of some foreclosures.....among other things is there a thinking person alive that thinks our current situation is SUPPORTIVE of HIGHER home prices in the near future?
Maybe we should rework ALL these mortgages...use taxpayer money to buy them down...in fact buy us all down in rice so we can afford our houses. WILL State tax men lower the value of our homes next asessment?
WHAT IS GOING TO BE the driver to economic recovery?
Am I really supposed to get excited that homes rose month/month by 1/2 of 1 %??? when they fell like a stone!? OMG!
goodnight
D
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