Posted on 08/23/2013 7:08:59 AM PDT by John W
New home sales plunged 13.4% month-over-month in July to an annualized pace of 394,000 units in July.
Economists polled by Bloomberg were looking for new home sales to fall 2% to an annualized pace of 487,000 units.
There was also a huge downward revision to June's number. New home sales climbed a more modest 3.6% to 455,000 units, down from the initial reading of an 8.3% rise to 497,000 units.
(Excerpt) Read more at businessinsider.com ...
Had this in Breaking News but it lasted about 30 seconds. I have no idea what qualifies for that sidebar anymore and I’ve been here a long time.
The hype back in May was obvious.
Um, oops.
When something is at a very low level anything is an improvement.
e.g. I was at 1 this year but now at 2 so I improved 100%. Didn’t matter that this time last year I was at 10 which is the norm......
The MSM uses the improving very loosely to create the impression that King Barry is actually doing something
But, but they just said things were getting better in the housing market. What with everyone having new 29 hour per week jobs and all.
I’d like to see those rates dip again for a couple months.
Better start a war to distract the masses.
Recovery Summer 4.0
Better start a war to distract the masses.
**********
Or a bus tour.
Or a gay coming out.
Followed soon by wall street and then the American economy. DEPRESSION is here and has been... and it is growing like that Louisiana sink hole that swallowed those Cyprus trees yesterday... in one bite.
LLS
That's not a miss, that's fraud.
Good point.
If they don’t have money to buy from Wal-Mart they aren’t going to be able to afford a house.
Hey, but those few of us still working with jobs can still buy cheap imports and employ Chinese people.
If they don’t have money to buy from Wal-Mart they aren’t going to be able to afford a house.
Hey, but those few of us still working with jobs can still buy cheap imports and employ Chinese people.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.