Rantings and tirades of a frustrated economist.
Not surprising at all.The Government, in all its wisdom, has decided that if they promote the "symptoms" of a recovery, then the recovery will actually happen.Is strong housing sales an indicator of a strong and stable economy? Yes. (Same with strong consumer confidence, retail sales, stock market, etc...)So, the logic goes like this:If we promote home sales, and that indicator goes up, then the recovery is actually happening. As if somehow, home sales is the cause, not the effect.What can I say, expect more of this idiocy until the general public gets educated. Oh, that's right, never then.
Well, it was a complete surprise to Dr. Mark J. Perry who is trying to figure out how to Carpe Diem this horrendous news the rest of us saw coming months before the HBTC was first scheduled to expire.It was also a complete surprise to Obama who thought he could raise the housing market from the dead. As of yesterday, he was still taking credit for reviving housing.
That sound you're hearing and shaking you're feeling is the housing market collapsing again - although this time from a height of about two feet.And darn, I'm looking for another home in the country which is relatively new, is more of a rambler than my multiple floor farm house and is on a paved road - I certainly haven't seen any bargains. There's a good supply of stuff for sale, but no bargains out there where I live.What I want to do is get a few semi-collectible cars and build a street rod or two when I retire.
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