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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