US new-home sales fell 7.8% in May

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This topic contains 0 replies, has 1 voice, and was last updated by  Crow Bar 4 months, 2 weeks ago.

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    Crow Bar

    They have been talking about everything from a “slump,” “economic slow down,” to “The Next Greater Depression.”
    Is this the start of that?

    As CHS and Kunstler have noted, there are so many who have not really recovered from the Great Recession. What would another economic downturn look like for them?

    Flip side, some have been saying we need the housing market to take a dive for those who want to buy a home, but cannot due to the current housing prices.

    I caught a bit of the news on the radio, about how there is a housing shortage. One of the factors contributing to that is the lack of day laborers (i.e. illegals). Have you ever been on a construction site in housing development? They hire a day labor for $20 a day, usually 5 per site. Meanwhile they charge the soon to be home owner for a professional construction worker (a legal US resident) $45 an hour. Thing is, all he does is oversee the day laborers, on 4 or 5 different construction sites. Sometimes he has to teach the laborers what to do.
    Yeah, I have seen newly built homes with frames not square, doors hung with 1/2 gaps at the bottom, you could see day light coming through, holes in the dry wall and more.
    IF I had to build new, I would get a factory built pre-fab.

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