bailouts, banking, bonds, commercial paper, commodities, counterfeit currencies, counterfeit securities, credit crunch crisis, credit default swaps, credit derivatives, Cricket Diane C Sparky Phillips, cricketdiane, Federal Reserve, financial derivatives, global economic crisis, Global Economy, International Concerns, investment banking, Macro-economic analysis 2008, Macro-economics future forecasting, mortgage backed securities, Principles of Economics, securities, stock market, unsecured loans credit, US economic crisis, US Economy, US government bailouts, US government policy, US Treasury
Housing Vacancies and Homeownership chart icon CHART
Homeownership Rate (HR)
The homeownership rate at 68.1 percent for the current quarter was not statistically different from the second quarter 2007 rate (68.2 percent) or the rate last quarter (67.8 percent).
New Home Sales chart icon CHART
Sales of new one-family houses in August 2008 were at a seasonally adjusted annual rate of 460,000. This is 11.5% below the revised July 2008 estimate of 520,000.
Construction Spending chart icon CHART
Total construction activity for August 2008 ($1,072.1 billion) was nearly the same as the revised July 2008 ($1,071.8 billion). Please see our web site for further details: http://www.census.gov/constructionspending
Quarterly Financial Report – Retail Trade chart icon CHART
After-tax profits for retail corporations with assets greater than $50 million averaged 2.3 cents per dollar of sales for the second quarter 2008, up 0.1 (+/- 0.1) cents from the average of 2.2 cents for the first quarter 2008.
Housing Starts/Building Permits chart icon CHART
Privately-owned housing starts in September 2008 were at a seasonally adjusted annual rate of 817,000. This is 6.3 percent below the revised August 2008 estimate of 872,000.
U.S. Census Bureau
Something is very wrong with these numbers – it is not possible to have this many foreclosures and have the same number in home ownership. With the credit crunch crisis that has been prevalent and pervasive enough to “bailout” the banks lending programs – how could new single family housing and construction starts have anything close to these numbers?
The profits at around two cents per dollar of sales couldn’t possibly be correct unless there is more crooked accounting going on in these arenas as well. Of course, if lay-offs accounted for this somewhere and actual profits were being hidden in continued growth or what? There is something very off about all these numbers.
note by cricketdiane