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New home sales plunge
Wednesday, November 26, 2008
Well, this shouldn't come as a surprise - the Commerce Department reported new home sales plunged to levels last seen in 1991, down 5.3 percent from September to October.
There's more at Bloomberg where Steven Wood, president of Insight Economics in Danville, California stated the obvious, "“The new home market remains extremely weak".
2 comments:
More homebuilders need to go bust. Someone should check the short interest on Pulte, Centex, and Toll Brothers.
Bailout 2008, a poem by David Jeffrey
Like a bloodied warrior,
laying broken and torn.
Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.
And the soldier is an economy,
and it is anything but funny.
Broken are it's people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.
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