Existing Home Sales Tumble Unexpectedly in May

[Hoss]

Who would have thought that an expiring tax credit would mean that demand would decrease.

LOL

[Gaspar]

Who would have thought that an expiring tax credit would mean that demand would decrease.

That's an interesting concept.  Surely you don't mean to insinuate that tax credits stimulate markets?

I wonder what would happen to the economy if some tax cuts were to expire? 

Probably something "Unexpected."

[nathanm]

That's an interesting concept.  Surely you don't mean to insinuate that tax credits stimulate markets?

I wonder what would happen to the economy if some tax cuts were to expire? 

Probably something "Unexpected."

I thought you had more logic in you than this. Obviously a short term, time-limited incentive to do something will temporarily increase that behavior above its normal level, then when it expires, there will be less than normal demand as people who were ready to buy accelerated their purchase to qualify.

And obviously there's a lot more demand elasticity in the housing market than the job market. Everyone demands a job.

[Conan71]

I thought you had more logic in you than this. Obviously a short term, time-limited incentive to do something will temporarily increase that behavior above its normal level, then when it expires, there will be less than normal demand as people who were ready to buy accelerated their purchase to qualify.

And obviously there's a lot more demand elasticity in the housing market than the job market. Everyone demands a job.

[nathanm]

Yeah, I think my attempt at humor may have been a little too dry. More like vinegar than wine, I guess.

[Gaspar]

I thought you had more logic in you than this.

You need to use smaller words, and less complex logic for me.  I'm very simple. 

I tend to think that if people have less money in their pocket they will spend less, and if they have more money they will spend more.

As for long term vs short term incentives, I typically assume that when you take something away that has been in place for years, it hurts more than when you take that which was just recently given.

Please try to cater to my simple mind.


Sometimes sock puppets help.

[guido911]

simple mind.

[Conan71]

Man they look gay

[we vs us]

Man they look gay

Guys like that were getting laid ALL OVER the place in the '80s. 

[Gaspar]

I like the guy at the bottom.  Looks like he just turned around surprised by the camera.  2 seconds ago you would have just seen the back of his head.

[Conan71]

I like the guy at the bottom.  Looks like he just turned around surprised by the camera.  2 seconds ago you would have just seen the back of his head.

At the risk of being banned for life, that guy was getting a reach-a-round from the guy on the lower right until 16 seconds before the shot was taken. The rest of the footage is Available on the video "What 80's pop stars will do for coke"