Unexpected to this guy. Everyone else saw it coming.
Posted on 08/25/2010 7:19:16 AM PDT by blam
NEW HOME SALES PLUNGE 12.4% (Unexpected)
Gregory White
Aug. 25, 2010, 10:00 AM
New home sales numbers came in lower than expected, down to an annualized 276,000.
That's a 12.4% drop over June, and a 32.4% drop over July 2009.
Markets fell immediately on the news, but have rebounded somewhat:
Dow down 0.62%
NASDAQ down 0.61%
S&P 500 down 0.82%
The consensus was for a slight improvement over June, at 340,000 annualized.
June home sales were an annualized 330,000, while May was at 267,000.
New home sales increased in June 23.6%, after falling 36.7% in May.
This comes after yesterday's massive 27.2% drop in existing home sales.
[snip]
(Excerpt) Read more at businessinsider.com ...
“Economic Recovery” (not that there ever was one) is officially dead.
We need an investigation as to why this is unexpected.....
Unexpected to this guy. Everyone else saw it coming.
This is all BUSH’s fault!!!!
So what will the Fed do next? Nothing. They're out of options. Negative interest rates, anyone? I don't think so. The Federal deficit is running at $140 billion each month, while credit demand has collapsed. Neither "quantitative easing" nor zero percent interest rates will rescue the capital markets. Water has to find its level, and it will.
Ruh Roh...
“Lower than Expected”- thats a great slogan for Obammy
Well... I am for sure!
Well... I am for sure!
IBU (In before “unexpected”)
Note also that the numbers previously reported for last month were revised downward.
Nearly all the revisions in the past 6 months or so have been negative, indicating efforts to make the newly released numbers (the ones that make the headlines) as positive as possible, hoping no one will notice when the data is revised.
CNN front page: UNEXPECTED tumble for new home sales
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