The economy, is it good or bad. (Page 105/181)
Phranc DEC 17, 09:43 PM
Well winter is a low time for housing traditionally.
Pyrthian DEC 18, 09:31 AM

quote
Originally posted by 84Bill:
Have we hit bottom yet?

Homebuilders' index scraping bottom
December reading of U.S. builders' sentiment comes in at record low for third straight month.

WASHINGTON (AP) -- A December reading of U.S. homebuilders' sentiment remained at a record low for the third straight month.

The National Association of Home Builders said Monday its housing market index, which gauges builders' perceptions of conditions and expectations for home sales over the next six months, came in at 19 in December. The number was at the lowest level since the index began in January 1985.

Index readings higher than 50 indicate positive sentiment. The seasonally adjusted index has been below 50 since May 2006, and declined for eight straight months this year, and has been unchanged since October.

Tighter lending standards, rising defaults among borrowers with weak credit and a sense of worry about the housing market's future have meant fewer buyers for hard-hit homebuilders such as D.R. Horton (DHI, Fortune 500), Pulte Homes (PHM, Fortune 500) and Centex (CTX, Fortune 500).



NO
being in the home building industry - the usual bottom is in january/february.
april is when things start going again.
so, the opening of 2008 is looking very very bleak.

but - this is how it is every year. our company is now down to the size it was in 1995. really has little need for me to run the network I am running. but, the bosses (which we also dont need 3 of anymore) love the instant communication. even tho, the only thing communicated anymore is clips from yuotube....
Red88FF DEC 18, 11:56 AM

quote
Originally posted by 84fiero123:

Bush Says US Economy Is Safe and Sound

"Instead of taking action, President Bush says the economy is safe and sound," said House Democratic Caucus Chairman Rahm Emanuel. "Middle-class Americans and economic experts all agree on something the president still refuses to admit: the economy is struggling and families need real help."

http://apnews.excite.com/ar...71217/D8TJF7NG0.html

Keep listening to those in charge, they know what their doing.




I seem to remember you having a cow when Bush hammered out a deal to lock interest rates on the arm loans a few weeks ago and save the "families" you can't have it both ways Steve.
84Bill DEC 18, 09:38 PM
Stores hiring fewer holiday temps
The seasonal job is a classic way for retailers to respond to the heavy shopping period, but this year holiday jobs are way down. Will lack of service turn off shoppers?
By Suzanne Kapner, writer

NEW YORK (Fortune) -- Like the holiday fruitcake and mistletoe, another staple of the Christmas season is the temporary retail job.

But less so this year. Faced with one of the toughest holiday shopping seasons in recent years, retailers are keeping a tight lid on hiring. Some 509,000 retail jobs were created in the October-November period, a 9 percent decrease over the same period last year, according to Challenger, Gray & Christmas, a Chicago-based staffing firm.

Unless there is a big upswing in December, the number of temporary jobs created by retailers this year is expected to shrink for the first time since 2001. "Retailers are being very cautious about staffing," said John Challenger, the firm's chief executive.

When times are lean, retailers look to cut expenses, and one way to keep costs down is to hire fewer seasonal employees. But the strategy may have unintended consequences. Stores that are too short-staffed risk turning off shoppers with spotty customer service.

And some believe such walk-outs are happening more. A record number of shoppers said they walked out of stores recently, because they couldn't find a sales clerk to help them, said Brit Beemer, founder of America's Research Group, who regularly surveys about 1,000 consumers to get a read on holiday sales trends. Nearly one-quarter of those surveyed said they walked out of a store without buying anything, because there was no one to help them, up from 22 percent who said so last year.

Some companies come to regret hiring cutbacks. Home Depot's (HD, Fortune 500) customer service plunged to all time lows after former chief executive Robert Nardelli, in a bid to save money, replaced knowledgeable full-time workers with inexperienced part time staff. The company has since embarked on a program to hire more experienced employees, such as retired plumbers and electricians, to better serve customer needs.

The last big drop in seasonal retail hiring occurred in the months following the Sept. 11 terrorist attacks, when temporary sales help shrunk by 26 percent to 585,000 workers, the lowest level in a decade, according to Challenger, Gray & Christmas, which parses data from the Bureau of Labor Statistics. Seasonal hiring has grown every year since 2003, amid stronger-than-average holiday sales gains.

This year, however, the National Retail Federation expects holiday sales to grow 4 percent to $474.5 billion, the slowest pace since 2002. To get customers shopping, retailers have offered big discounts and extended store hours. Macy's (M, Fortune 500) said this week, for instance, that it would keep seven stores, including its Herald Square flagship, open 24-hours during the pre-Christmas weekend.

Another way retailers could sooth shoppers' frazzled nerves (and boost their own sales) is by having enough trained staff on hand to fetch different sizes from the stock room, answer questions and make suggestions about holiday gifts. Andrew Buss, director of the retail and consumer practice for Archstone Consulting, points to Apple (AAPL, Fortune 500) as a good example. Despite the crowds, he said, it is never difficult to get assistance. "If you want to get the sales," Buss said, "you've got to have the help." To top of page
Phranc DEC 18, 10:12 PM
51% of consumers polled said they would be giving gift cards. A store doesn't tally those as sales until redeemed at the teller. Sales will be higher in the early months of next year then before x-mas.
84Bill DEC 18, 10:37 PM

quote
Originally posted by Phranc:

51% of consumers polled said they would be giving gift cards. A store doesn't tally those as sales until redeemed at the teller. Sales will be higher in the early months of next year then before x-mas.




I'm not sure what you are getting at but... the last time I bought a gift card I paid cash for it. If I'm not mistaken that is a sale and it goes on the receipts for that day. In other words I spent 100 bucks at the store to get a card so someone else can pick out the merchandise I "already" paid for later on. I suppose it depends on how those gift cards are counted.
Phranc DEC 18, 10:49 PM

quote
Originally posted by 84Bill:



I'm not sure what you are getting at but... the last time I bought a gift card I paid cash for it. If I'm not mistaken that is a sale and it goes on the receipts for that day. In other words I spent 100 bucks at the store to get a card so someone else can pick out the merchandise I "already" paid for later on. I suppose it depends on how those gift cards are counted.



Nope stores don't count those sales until the card is redeemed. That way when you only use 96 out of that 100 dollars there is a majic extra 4 dollars on the books.
84fiero123 DEC 19, 07:24 AM
But then the housing mess isn’t affecting anyone else but those who were stupid enough to get an ARM.

US Foreclosure Filings Up 68 Pct in Nov.



Wednesday December 19, 6:55 AM EST

LOS ANGELES (AP) — U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company.
In all, 201,950 foreclosure filings were reported last month, compared with 120,334 in November 2006, Irvine-based RealtyTrac Inc. said Wednesday.

http://money.excite.com/jsp...ews_id=ap-d8tkgec01&

Hey Ace, have you sold your house yet? I wonder just how much you will have to drop your price to sell with the housing prices going down the way they are.

This is affecting everyone, and not in a good way.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

aceman DEC 19, 07:49 AM
Nope. I haven't sold my house yet. It's a poor time of the year to sell a house.

I'm not concerned in the least.

Bought for $105,000 9 years ago.

Redid my loan 2 years later for less interest and went to $110,000

Owe under $95,000

Owe my sister $10,000 for some home improvements.

___________________________________________________________________________

House tax market value: $235,000

Market Value against similar listed houses: $200,000

Listing at $185,000

Willing to take an offer immediately at $170,000

_____________________________________________________

If I take $170,000. I'll walk away with $45,000 in my pocket.

_________________________________________________________

My neighbor bought 6 years ago a house similar, but less square footage, no fireplace and stucco, not brick. He bought for $135,000. A year later he got a $25,000 home improvement loan. After that evil real estate commission, he can't afford to sell for less than $160,000.
_____________________________________________________________________________

I can go to a pretty low price with selling my house. Or I can rent it out at a price that will easily cover my mortgage, insurance and taxes. I've been living in two different locations for 5 months now. My wife can move down here and get an average paying job to pay rent down here while still paying a mortgage on an empty house. We can still live at our current lifestyle and spending.
84fiero123 DEC 19, 07:56 AM
So just how long has it been on the market ace?

I thought you put this on the market a while ago, during the summer.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.