Housing: ‘In Great Shape?’

2011 Was The ‘Worst Ever For Sales’ Of New Homes, But Dem Leadership Says ‘We Are In Great Shape’


2011: The Worst Sales Year On Record

“Fewer people bought new homes in December, making 2011 the worst sales year on record. The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy. About 302,000 new homes were sold last year. That's less than the 323,000 sold in 2010...” (“New-Home Purchases Fall, 2011 Worst Ever For Sales,” The Associated Press, 1/26/12)

STANDARD & POOR’S: “Broad-Based Declines In Home Prices … The 10- and 20-City Composites posted annual returns of -3.0% and -3.4% versus October 2010.” (“The Fourth Quarter Starts With Broad-Based Declines In Home Prices According To The S&P/Case-Shiller Home Price Indices,” S&P, 12/27/11)

7.7 Million Foreclosure Filings Since President Obama Took Office (RealtyTrac, Accessed 12/27/11)


SEN. SCHUMER: ‘We Think We Are In Great Shape. We Are In Good Shape’

SEN. CHUCK SCHUMER (D-NY): “The Republican speaker last night, Mitch Daniels, talked about Americans must talk about the state of the union as grave. So, we think we are in great shape. We are in good shape.” (Sen. Schumer, Press Conference, 1/25/12)

‘09 FLASHBACK: ‘The Housing Part Of This Program Is Really Beginning To Work’

SEN. CHUCK SCHUMER (D-NY): “One good thing, the housing part of this program is really beginning to work. In other words, you are seeing a lot loan modifications starting to occur… it really is beginning to work.” (MSNBC’s “Morning Joe,” 4/6/09)