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Economy Title: Obamanomic Recovery Continues: Housing starts see biggest drop since 1984 WASHINGTON (Reuters) - Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history. Groundbreaking on new construction dropped 22.5 percent last month to an annual rate of 479,000 units, according to Commerce Department data released on Wednesday. This was just above a record low set in April 2009 and way below the estimates of economists, who had been looking for a smaller drop to 570,000. January's figure was revised up to 618,000 units from 596,000. But that did not change the tenor of the report, which confirmed that the sector is failing to recover despite interest rates near record lows. Building permits, a hint of future construction demand, fell to a record low of 517,000 units from a revised 563,000, and were down by about 20 percent from levels seen in February 2010. Housing was at the epicenter of the financial crisis of 2007-2009. One key impediment to the sector's recovery is a vast backlog of unsold inventory, while a shaky job market has also made consumers reluctant to embark on any major new financial commitments. Making matters worse, a glut of foreclosures, stalled in recent months by revelations of improper loan documentation, is depressing the market. (Reporting by Pedro Nicolaci da Costa, Editing by Chizu Nomiyama.) Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Housing starts aren't important, what is important is cutting off funding for NPR. Please get your priorities straight. Since January 3, 2011, Republicans have controlled the power of the purse. #2. To: go65 (#1) what is important is cutting off funding for NPR. Please get your priorities straight. I sent a strongly worded email just this morning to my Congressman for funding NPR, ObamaCare, etc., etc. with his "Yea" on CR yesterday.
#3. To: Happy Quanzaa (#2) I sent a strongly worded email just this morning to my Congressman for funding NPR, ObamaCare, etc., etc. with his "Yea" on CR yesterday. I do expect that if folks like you get their wish and we see massive spending cuts and/or a government shut-down, you won't complain when we end up like the U.K. and have another recession. Deal? Since January 3, 2011, Republicans have controlled the power of the purse. #4. To: go65 (#3) I do expect that if folks like you get their wish and we see massive spending cuts and/or a government shut-down, you won't complain when we end up like the U.K. and have another recession. Don't be silly. He'll just call for more budget cuts 'cause the old cuts weren't deep enough. You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you. Ludwig von Mises in a letter to Ayn Rand #5. To: lucysmom (#4) Don't be silly. He'll just call for more budget cuts 'cause the old cuts weren't deep enough. Well at least boehner admitted that if jobs are lost then "so be it" Since January 3, 2011, Republicans have controlled the power of the purse. #6. To: go65 (#3) another recession How do we have another recession when we haven't come out of this one yet? Actually we're in depression stage now even though the Obamaconomists won't admit it, recession level would be an improvement.
#7. To: go65 (#5) Well at least boehner admitted that if jobs are lost then "so be it" From the way Walker has pushed his so-called "budget repair bill", to Washington Republican's willingness to ignore their own promise to reject any legislation that increases spending and repeal health care reform any way, to Grover Norquiest's demand that California Republicans reject Jerry Brown's proposal to allow extending current tax rates on the ballot for voters to decide, or else, it is obvious that Republicans are not working for the good of the country or its citizens - they have another agenda. (yikes! I've outdone myself for bad sentence structure) You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you. Ludwig von Mises in a letter to Ayn Rand #8. To: lucysmom, happy quanzaa (#7) (Edited) here's what is on the House's docket today: - rescinding funding for the neighborhood stabilization program That's it. What is the NSP? It provides $1 billion to revitalize neighborhoods hit by foreclosures, giving local governments the ability to clean up neglected properties so they can be sold rather then letting them decay. And here's the catch, the $1 billion is scheduled to be spent by 3/31. Even if the House passes the bill today, it won't clear the Senate before 3/31. So the House's action today is useless. That, is your Republican House at work. Where are the jobs? Since January 3, 2011, Republicans have controlled the power of the purse. #9. To: Happy Quanzaa (#6) How do we have another recession when we haven't come out of this one yet? we're out of the last one per independent analysis (not Limbaugh or Fox News, I'm sorry). GDP is growing again, we're adding jobs, and unemployment is falling. Meanwhile, the UK, which adopted Conservative austerity programs, is again in a recession. That is the vision of the tea party for America. Remember, the ultimate goal is to destroy Obama so he can't win in 2012, and there's no better way of doing that then hurting the economy. Since January 3, 2011, Republicans have controlled the power of the purse. #10. To: go65 (#8) What is the NSP? It provides $1 billion to revitalize neighborhoods hit by foreclosures That's what Obama was supposed to fix with Stimulus I & then Stimulus II, what happened to all that money he printed and borrowed from China to fund them?
#11. To: go65 (#9) we're out of the last one per independent analysis (not Limbaugh or Fox News, I'm sorry). It appears that Limbaugh is busy again today ridiculing the Japanese for their misfortune, so his "analysis" is not available. "Am I for or against abstinence?" - Sarah Palin #12. To: Skip Intro (#11) It appears that Limbaugh is busy again today ridiculing the Japanese for their misfortune, so his "analysis" is not available. so he's taken a break from ridiculing those on social security disability (except for those who call his show with their sob stories?)) Since January 3, 2011, Republicans have controlled the power of the purse. #13. To: go65 (#12) so he's taken a break from ridiculing those on social security disability (except for those who call his show with their sob stories?)) I don't know for sure. He's so toxic that I only find out what he's babbling about from a great distance. "Am I for or against abstinence?" - Sarah Palin #14. To: Skip Intro (#11) It appears that Limbaugh is busy again today ridiculing the Japanese for their misfortune, so his "analysis" is not available. When was he doing that? I heard him in his first hour while I was driving, and he mostly was ridiculing the dumbass Kenyan usurper for filling out hoops brackets on ESPN amidst all the current chaos. Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’?? Top • Page Up • Full Thread • Page Down • Bottom/Latest |
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