Tuesday, August 24, 2010

Existing Home Sales Crash, and I Mean Crash

This is as big as a stock market crash.

Existing home sales dropped a record 27.2 percent in July.  The Obama manipulated recovery is dust. The only way they can restart the manipulation is by heavy money printing (Translation: Only by serious inflation)

It's really time to stop propping up a housing market that needs to obviously readjust at much lower levels.

The collapse in sales will push housing inventories much higher, which translates into lower prices just ahead.

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