Home sales are actually up? Does that home sales are actually up, make you feel the “depression” isn’t real?

According to the national Realtor association home sales are up 17.4% in the last two months.

November home sales leap –

NEW YORK (CNNMoney.com) — After surging 10% in October, sales of existing homes jumped again in November, growing 7.4% compared with October to an annualized rate of 6.54 million units, according to the National Association of Realtors.

“This clearly is a rush of first-time buyers not wanting to miss out on the tax credit,” said NAR’s chief economist, Lawrence Yun.

November was originally going to be the last month in which sales to first-time homebuyers would qualify for a federal tax credit of up to $ 8,000. However, that deadline was extended through June.

In addition, the tax credit was expanded to cover people who already own a home. They can qualify for a $ 6,500 tax credit if purchase a new house before the end of June. That should encourage “trade-up” buyers.

The strength of sales in November surprised the industry. A panel of experts compiled by Briefing.com had forecast month-over-month sales growth of just 2.5% to 6.25 million from 6.1 million a month earlier.

The sales total was also a huge improvement over a year ago. Sales rose 45.7% over the paltry annualized rate of 4.49 million units during November 2008.

The contribution made by first-time buyers is evident in a separate survey NAR conducted of its members. They estimate that 51% of sales in November were by newcomers to the market, up a point from 50% in October. Normally, first timers account for about 40% of sales.

Also propelling sales higher were rock-bottom interest rates. The average for a 30-year, fixed-rate loan during the month was just 4.88%, down from 4.95% in October and 6.09% a year ago.

With rates that much lower, homebuyers can save more than $ 150 a month on a $ 200,000 mortgage.

The industry expects home sales to slacken December, partially because of the tax credit’s originally scheduled demise. That caused some buyers to push up their closing, stealing sales from December.

However, sales will not fall off a cliff, though, according to Walter Molony, a NAR spokesman. “The psychology seems to be turning around,” he said. “Potential buyers, who had been staying on the fence, now believe we’re at or near the market bottom.”

One X-factor, however, is the vast numbers of homes that may come to market over the next few months. There is a large “shadow inventory” — homes owned by banks and mortgage companies — that have not yet been put up for sale. It could be as many as 1.7 million units, according to First American CoreLogic.

In addition, another spate of foreclosures could be hitting the market as a number of option-ARM mortgages are set to default.

All that may drive prices down, according to Shari Olefson, author of “Foreclosure Nation: Mortgaging the American Dream.” And the impact of these renewed price declines could again alter the market psychology.

“People think that prices have bottomed,” she said. “I don’t think they have. People will see price declines and that will discourage them from buying.”

Mike Larson, a real estate analyst with Weiss Research has preached all through the bust that price declines are what will “fix” the housing crisis.

“We needed to see prices fall to make ownership competitive with renting again, and to restore the normal relationship of house prices to income,” he said. “That has now happened and you’re seeing buyers come out of the woodwork as a result.”

Still, they will have to come out in large numbers to offset the inventory overhang in some of the worst markets, according to Olefson. In the Florida condo market, for example, there is a 35-to-40 month supply of units at the current rates of sale, she said.

Prices still almost certainly have further to fall



what I believe to be the true values in life they have turned out so horrible?

When I met my husband over 20 yeas ago we were both real ling from bad marriages.(We were single when we met). We both had partners that the only thing that seemed important to them was how things “looked”. You know, the nice house full of every thing shiny and new, flash car, debts up to you’re eye balls. You know what I mean. The veneer to cover up what is really going on. My husband was a social climber and so was my husbands wife. We were both miserable. This was not the life we wanted. My husband was a bore, he gave me “pocket money” and treated me like a half wit. My husbands wife was a serial adulterer and left him for his “best friend” and business partner and took everything he had, including his children.

We worked together, that’s how we met. We hit it off immediately, both of us going on and on about what we were really looking for,what would be nice, our hopes and dreams. We were singing from the same song sheet!!

Anyway, the thing is he asked me to move in with him, and then he asked me to marry him. We have just celebrated our 21st Anniversary and I think I probably love my husband more every day.

We vowed that we would not do the debt thing – no credit cards, no loans, no mortgages, no overdrafts. If we wanted something we would save up and buy it outright. We have stuck to it. Sometimes things have got really tough, especially when the children started to come along. But we did it.

We have taught our children that possession’s are not important and why should you have things that you haven’t earned. What you have around you should be as a result of what you have achieved, not a pretense of what you would like to be.

Our home is secure forever (we live in a council house) no bailiff is ever going to come to my door. My children have everything they could want. They have been on school trips to France, Italy, Barcelona, and quite a few day trips here there an everywhere. All paid for, no credit, no debt. We have two computers in the house – bought and paid for.

We have five children – yes I know probably a couple to many. Things happen and you go with it. My eldest is just about to turn 17 he is mean spirited and at times very cruel. The next is 15 and tells us regularly how grateful an appreciative of him we should be as he is doing so well at school, of which he is, but this is the reason why he should be given everything he wants and shouldn’t have to do anything to help around the house! My daughter who is 14 is just an unpleasant little cow, she comes and goes as she pleases, dresses like a little tramp, stays out all night without permission, smokes, drinks and gets up to god knows what with the boys. Tells me that I don’t ever listen to her, which is not true,we have spent many hours talking. She makes proclamations, admitting to all her wrongs, promises to be a good girl, I let her make the terms to try and win her round, then she still can’t stick to them.

My twins are just about to turn 10 and time will tell what happens to them. Hopefully we have learned a few lessons from the older ones.

We have taught them that people are important, looking after, and looking out for each other. Loving and caring, being honest, respectful of others and their beliefs/feelings. To do the right thing, to be a decent individual that is quite clear in their idea of right and wrong.

Yet none of this seems to have stuck and we have a unpleasant bunch of selfish brats.

Why is that?

I have spent the last couple of days still fighting back the tears from my eldest sons latest comment, I quote, “Anyone would think you were African, you breed like vermin and live in squalor.”

It saddens me to think that I don’t like my children, what will they become, I just hope it is just the “phase” they are going through, what do you think?

I have to say that they are all doing very well at school, and everybody who meets them says how bright, intelligent and articulate they are, and how polite and helpful they are. It’s just me and their dad that they are so unkind to. I love my children, they just make me unhappy.

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