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Dec 20

WEIRD NEWS WEDNESDAY: LIBERALS STILL PISSED OFF TRUMP BECAME PRESIDENT:DOW HIT RECORD HIGH LEVELS, HOME SALES UP, UNEMPLOYMENT DOWN,IT’S AWFUL!!

WEIRD NEWS WEDNESDAY—-OMG HOW AWFUL—HOME SALES ARE UP, UNEMPLOYMENT IS DOWN, HOLY CRAP IT’S AN AWFUL STATE OF AFFAIRS WHEN GOOD THINGS HAPPEN TO AMERICANS, NOW ISN’T IT?!!

weh

President Trump is doing a great job. The DOW has reached record high levels. Levels never seen before. Home sales are up as in way up, and soaring to levels not seen since well umm, since Bush II was president. Unemployment is down. Construction is up. A new tax plan representing the middle class is going through. And for some odd reason Liberals are still pissed off  that their president did not win. Why would anyone be pissed off that great things are happening in America today?

When someone literally lowers your taxes, takes away the bullshit payment Obama came up with if you did not sign up for Obamacare, that should make people happy. But, no the CNN viewers who just happen to be unhappy Liberals will not give President Trump any credit for doing a great job. I’ve also read online, that shoppers are optimistically spending money for Christmas again. We are no longer afraid to spend money because we have a president that knows what he is doing.

The National Association of Realtors said on Wednesday (12/19/17) that existing home sales surged 5.6 percent to a seasonally adjusted annual rate of 5.81 million units last month amid continued recovery in areas in the South ravaged by Hurricanes Harvey and Irma. That was the highest level since December 2006 and followed an upwardly revised 5.50 million-unit pace in October.

 

Economists polled by Reuters had forecast home sales rising 0.9 percent to a 5.52 million-unit rate in November from a previously reported 5.48 million-unit pace in October.

Existing home sales make up about 90 percent of U.S. home sales. They rose 3.8 percent on a year-on-year basis in November.

The NAR said sales in the South, which accounts for almost half of the existing homes sales market, increased 8.3 percent last month. Sales rose 6.7 percent in the Northeast and jumped 8.4 percent in the Midwest. They, however, fell 2.3 percent in the West, which has seen a strong increase in house prices.

Despite the recent gains, existing home sales remain constrained by a chronic shortage of houses at the lower end of the market, which is keeping prices elevated and sidelining some first-time buyers, who accounted for 29 percent of transactions last month.

With supply still tight, the median house price increased 5.8 percent from a year ago to $248,000 in November. That was the 69th consecutive month of year-on-year price gains. In contrast, annual wage growth has struggled to break above 2.9 percent since the 2007/09 recession ended.

The report came on the heels of data this week showing homebuilder confidence vaulting to a near 18-1/2-year high in December and single-family homebuilding and permits rising in November to levels last seen in the third quarter of 2007.

The NAR said it anticipated a slightly negative impact on the housing market from the Republican overhaul of the U.S. tax code.

The biggest overhaul of the tax system in more than 30 years, which could be signed into law by President Donald Trump soon, will cap the deduction for mortgage interest at $750,000 in home loan value for residences bought from Jan. 1, 2018, through Dec. 31, 2025.

 

 

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