7 Jan, 2009
Pending home sales plunge to record low
Slumping stocks, economy made buyers put purchases on hold
WASHINGTON - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
The National Association of Realtors Pending Home Sales Index, based on contracts signed in November, dropped 4.0 percent to 82.3, the lowest level since the series started in 2001. That was worse than economists' expectations for a 0.1 percent drop.
November's reading was 5.3 percent lower than a year-ago and October's pending home sales index was revised down to 85.7.
"Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November," said Lawrence Yun, NAR chief economist. "December's housing market activity could be comparably lower due to ongoing problems in the economy."
(For the rest of the story visit: http://www.msnbc.msn.com/id/28521496/)
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What's your perspective?
16 Therefore we do not lose heart. Though outwardly we are wasting away, yet inwardly we are being renewed day by day. 17 For our light and momentary troubles are achieving for us an eternal glory that far outweighs them all. 18 So we fix our eyes not on what is seen, but on what is unseen, since what is seen is temporary, but what is unseen is eternal.
What does God's Story scripture teach us about the temporary and eternal?
In a world that seems to be going a little crazy this piece of scripture offers comfort. Paul, the guy who wrote this, acknowledges up front that things on this earth don't always look good. Economic crisis in our world is never easy, because it affects us in lots of ways. It creates a strain for people. Paul quickly turns the corner and reminds us that what is unseen will last. The love God has for us will last. The sacrifice He made for us in Jesus will last, even through economic crisis.
Paul encourages us to take heart and set our heart's eye on the things that are unseen. We can find hope and the ability to keep going when we focus on Jesus instead of our temporary circumstances.
The stuff we see at its worst in this world is only going to last for a while. This excerpt from Paul's letter to the church at corinth tells us, therefore, not to settle on the temporary stuff, but to hang on to the eternal God.
How can we connect today's God's Story Scripture to our lives?
Things in your life might be rough right now. Maybe you, someone you know, or a parent has lost their job. Maybe you have just not been able to live like you have before. Here are some ways to find some comfort, or at least readjust your perspective to things that last.
- Memorize 2 Corinthians 4:18
- When you start to feel anxiety about this place, talk to God about it. He wants you to share your fear with Him.
- Write down the things that worry you most; then ask an older Christian you trust and respect to pray with you.
- Ask that same person how they deal with the pressure they feel.
How can we connect today's story, God's Story scripture, and our story to others?
What is happening right now might be very real to a friend. Here are some ways you can move the conversation to Jesus.
- As your friend shares their fear, tell them about what Paul wrote in 2nd Corinthians. Ask them how they think Paul's words affect them.
- Tell your friend about the conversation you had with an older Jesus follower. Share the insight you gained.
- If your friend will let you, offer to pray with them about the anxiety they feel.
- February 2012 [5]
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- January 2007 [7]
- December 2006 [4]
- November 2006 [13]
- October 2006 [17]
- September 2006 [11]
- August 2006 [16]
- July 2006 [10]
- June 2006 [3]
