{"id":13337,"date":"2012-04-20T12:57:24","date_gmt":"2012-04-20T16:57:24","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=13337"},"modified":"2012-04-20T12:57:24","modified_gmt":"2012-04-20T16:57:24","slug":"the-recovery-doesnt-seem-to-be-recovering-very-well","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=13337","title":{"rendered":"The Recovery Doesn&#8217;t Seem To Be Recovering Very Well"},"content":{"rendered":"<p>Yesterday Ed Morrissey posted an article at <a href=\"http:\/\/hotair.com\/archives\/2012\/04\/19\/existing-home-sales-fall-2-6-in-march-adding-to-downward-housing-trend\/\">Hot Air<\/a>\u00a0about the latest report to come out on the <a class=\"zem_slink\" title=\"Real estate economics\" href=\"http:\/\/en.wikipedia.org\/wiki\/Real_estate_economics\" rel=\"wikipedia\" target=\"_blank\">housing market<\/a>. The <a class=\"zem_slink\" title=\"National Association of Realtors\" href=\"http:\/\/www.realtor.org\/\" rel=\"homepage\" target=\"_blank\">National Association of Realtors<\/a> reported that the market for both new homes and existing homes went down in March. March was the third month out of the past four months when sales of existing homes have gone down.<\/p>\n<p>The article reports:<\/p>\n<p style=\"padding-left: 30px;\"><strong>Residential real estate remains the economy\u2019s soft spot, challenged by stricter lending standards, lower home values and the threat of more\u00a0<a title=\"Get Quote\" href=\"http:\/\/www.bloomberg.com\/quote\/FORLTOTL:IND\">foreclosures<\/a>. An improved <a class=\"zem_slink\" title=\"Labour economics\" href=\"http:\/\/en.wikipedia.org\/wiki\/Labour_economics\" rel=\"wikipedia\" target=\"_blank\">labor market<\/a> and\u00a0<a href=\"http:\/\/topics.bloomberg.com\/mortgage-rates\/\">mortgage rates<\/a>\u00a0near historic lows have yet to stoke bigger gains in demand.<\/strong><\/p>\n<p>The article further states:<\/p>\n<p style=\"padding-left: 30px;\"><strong>The description of an \u201cimproved labor market\u201d applied more in February than it did in March.\u00a0 Last month, the US only added 120,000 jobs, barely enough to keep up with population growth.\u00a0 Even before that, the previous three months added around 650,000 jobs in the aggregate, which means actual growth above population increase of about 300,000 jobs \u2014 which wouldn\u2019t greatly increase demand in the housing market, but shouldn\u2019t result in a <em>decrease<\/em> in demand.\u00a0 First-time buyers still only account for a third of these purchases, when the normal level is around 40%, according to Bloomberg News.\u00a0 That\u2019s an indication of a lack of confidence among younger adults.<\/strong><\/p>\n<p>I am not an economist, but it seems to me that until people feel they have secure jobs, they won&#8217;t buy houses. I also wonder if the fact that it used to cost $30 to fill up a gas tank and now costs $60 might have people saving their pennies in case things get worse.<\/p>\n<p style=\"padding-left: 30px;\"><strong><\/strong>\u00a0<\/p>\n<div class=\"zemanta-pixie\" style=\"margin-top: 10px; height: 15px;\"><a class=\"zemanta-pixie-a\" title=\"Enhanced by Zemanta\" href=\"http:\/\/www.zemanta.com\/\"><img decoding=\"async\" class=\"zemanta-pixie-img\" style=\"float: right; border-style: none;\" src=\"http:\/\/img.zemanta.com\/zemified_e.png?x-id=52b0d415-b036-47e3-a4de-2f4f56d95a92\" alt=\"Enhanced by Zemanta\" \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday Ed Morrissey posted an article at Hot Air\u00a0about the latest report to come out on the housing market. The National Association of Realtors reported that the market for both new homes and existing homes went down in March. March &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=13337\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[221,1075,2821,2824,2822,2823],"class_list":["post-13337","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ed-morrissey","tag-mortgage-loan","tag-national-association-of-realtor","tag-real-estate","tag-real-estate-economics","tag-residential"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13337"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13337\/revisions"}],"predecessor-version":[{"id":13338,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13337\/revisions\/13338"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}