[dawn53]

So yesterday the headline was:

"Sales of Existing Homes Unexpectantly Rise"

and today the news is

"New Home Sales Plummet."

LOL!

[RedRepublic]

So yesterday the headline was: "Sales of Existing Homes Unexpectantly Rise" and today the news is "New Home Sales Plummet."

Same thought came to my mind.

[USS Alaska]

This is great news! A return of the 1929 depression! Terrific! Soup lines, 30% unemployment, living in tents, riots in the streets of Paris, wait.... am I in the right country?

The preyers from the demonRAT party love misery. Only they can save us from the evil capitalists.

Workers of the world, unite. Overthrow the robber barons. Down with bill gates.... errr, wait, I'm so confused.

The SOBs from the msm will trumpet anything as bad news for the evil Bush.

[HamiltonJay]

Those 2 things are NOT divergent.

What that says is folks can't or won't pay the overpriced premium for newer construction... and those that are buying are choosing less expensive existing homes...

When the buyers scale back, the bubble has burst.

Now since brand new construction isn't selling, builders will slash prices.. which mean those that have bought in the last few years will be undercut (in all but the most rapidly appreciating areas) and their newer but used homes will go down even more... many will be underwater. And the downward pressure from above will force a decline and the decline will work its way down through the market.

POP!

[TheyConvictedOglethorpe]

So yesterday the headline was: "Sales of Existing Homes Unexpectantly Rise" and today the news is "New Home Sales Plummet."

I used to forecast economic data for a living. My opinion on new home sales was that the data are random.

[Dark Skies]

Here's a link to an article that reported that headline... Reuters

The sky is always falling, but only for Chicken Little.

[muawiyah]

When winter arrives sales of existing homes increase while sales of new homes decline. Has something to do with the weather.

Never quite figured it out, but it's there.