Wednesday, December 17, 2014

That is a LOT of percent.

Am I the only one who finds an uncomfortable amount of headlines comparing the state of the world now to how it was in 2007/8/9?

"Sacramento County’s housing market continued its traditional seasonal slowdown in November, with the number of sales falling significantly compared with October, CoreLogic DataQuick reported on Tuesday.

And the November calendar didn’t help things, either.
Sales of all homes – new, resale and condos – in Sacramento County totaled 1,459, down 22 percent from 1,871 in October. That was the worst November since 2007, when 1,341 sold.

The story was the same throughout the Sacramento region and statewide.

There were 527 closings in Placer County in November, down 27.4 percent from 726 in October. El Dorado County saw a 38.6 percent decline, from 311 in October to 191 last month. The monthly drop was nearly 19 percent in Yolo County, with 144 closings in November vs. 177 in October.

In the Bay Area, overall home sales of 6,003 last month were down 22 percent from October and marked the worst November in six years. In Southern California, the region’s 15,643 closings dipped nearly 10 percent year-over-year and represented the worst November in seven years."

Source Sacbee.

I guess I now know why my property manager didn't try to sell me the rainbows and unicorn story they normally do. I wondered if she'd finally had realized I wasn't buying that crap. Though it's never stopped them before. It's their sole job to try and change my mind.

We are going into full stagnation. And it just sucks. But it will be a ton of fun to watch the Fed try to raise interest rates in 2015. This morning rates were solidly in the 3.62% range. If they don't get traction out of that rate - this horse might be close to dead.

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