Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.49m | ▼ | 4.74m |
| New Home Sales | 309,000 | ▼ | 344,000 |
| Housing Starts | 583,000 | ▲ | 477,000 |
| Building Permits | 547,000 | ▲ | 531,000 |
| HMI | 9 | UNCH | 9 |
| Existing Home Prices | $170,300 | ▼ (annually) | $199,800 |
| New Home Prices | $201,100 | ▼ (annually) | $232,400 |
More Videos
- 100% Mortgage Financing From USDA
- Despite Government Aid, Foreclosure Crisis is Not Improving
- Housing Data Delivers Mixed Messages
- Appraisals Now Center Stage in Housing Recovery
- Underwater Mortgages Could Sink Even Deeper
- First Time Buyers Rescue Housing: Realtors
- Housing Recovery 'Still In Uncharted Territory': HUD Secretary
- Shadow Inventory Dwarfs Loan Mods
- The Battered Businesses Behind Housing
- Watch Foreclosures, Seriously
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
- The Richest Members of the US Congress
- New Consensus Sees Stimulus Package as Worthy Step
- Wall Street Jobs Slow to Return Despite Record Profits
- Thanksgiving Week Stuffed With Economic News
- Black Friday Deals May Not Signal Retail Comeback
- Investors to Goldman: Be Less Greedy
- UPS Sets New Rates For 2010
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- 'New Moon' Takes Record $72.7M Box Office Bite
RSS FEED
Realty Check
Text Size 
 |
CNBC.com photo composite |
And regarding my posts: I want to thank all of you who have written in to the blog. I try to read as many of your posts as possible, but as you might have guessed, my beat is a bit busy these days, and so I can't get to all of them.
I do try to reply to the most urgent questions. Some of you have expressed concern that I'm not being an impartial journalist on the blog...and you're right, I'm not. That's not what a blog is about. You can rest assured that my reports on CNBC TV will report both sides of every story and as many cold hard facts as I can cram into the 90 seconds I'm usually given. The blog, on the other hand, is an outlet for me to take what I know and learn on the beat and offer my own opinions. Take 'em or leave 'em. That's up to you.
Before I go, I wanted to share with you all an email into the Realty Check this week that really sums up our situation in housing. It was titled: "Please Help!!! Confused Potential Buyer"
Dear CNBC,
My name is Kyle. I am a 28 year old car salesman (foreign manufacturer w/ a viable future) who is contemplating purchasing a home. I currently have saved a decent amount of money for a down payment on a home, but with all this negative news in the housing sector I am extremely concerned about putting most of my life savings into a home. I am currently living at home (to save $ for my own home) and am ready (I think) to take a step beyond.
In this chaotic housing market, would you recommend jumping into the market to now (just because I can?) or should I wait a little bit longer for better rates (4.25%?!?!), a cleaner credit report, and a better debt to income ratio (I could pay off my current auto loan). I have no credit card debit, and my only other obligation is a $225/m student loan.
The closer I get to pulling the trigger on a purchase or lease; I seem to get cold feet. There seems to be a lot of conflicting ideas (good and bad) of when would be a good time to buy in this environment. I am also considering renting with a friend for the next year. This scenario would allow me to pay off my car, continue to save, and still get me out of the parent’s house. Would I be missing the bus if I wait for another 6 months to a year to purchase a home??
Any suggestions would be greatly appreciated.
Kyle makes a lot of good points, and it's hard to counsel him in today's ever-changing financial environment. I fear that so many first-time home buyers like him are sitting on the fence, with good reason, and that is what is standing in the way of a housing recovery. It will be up to the new administration to jumpstart housing (don't worry, I won't go into my views on how they should do that---been there, done that).
But it will also be up to average Americans to take a chance on our economy again, after bearing the wrath of laughable oversight, reckless corporate leadership and broken market systems. A home should be a place to take comfort and a comfortable, albeit conservative, nest egg. The greatest holiday gift to all of us would be to remember that.
Happy Holidays!
Diana
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes