HOME SALES FALL 17 PERCENT
BIGGEST DROP ON RECORD!
Sanford Pinna, M.D.
The RIP TIDE keeps pulling.
Home sales are getting worse. Who can buy a home
without a job?
Only OBAMA the magic TALKING HEAD.
OBAMA has bought the White House.
He and his family and friends plan to live there forever!
Why not? They deserve it .
Existing Home Sales Decline More Than Forecast
By Courtney Schlisserman
Jan. 25 (Bloomberg) — Sales of existing U.S. homes plunged more than anticipated in December, showing the dependence of the housing market on a government tax credit.
Purchases slumped 17 percent the month after a government tax credit was originally due to expire, the biggest decline since records began in 1968, to a 5.45 million annual rate, the National Association of Realtors said today in Washington. The median sales price increased for the first time in two years.
First-time buyers rushed to complete deals before the $8,000 government incentive was due to end, pushing sales up 28 percent in the three months to November. The subsequent extension and expansion of the credit to include closings through June signal demand will strengthen in the first half of 2010, while raising the risk the market will then slow anew should jobs remain scarce.
WILL JOBS REMAIN SCARCE?
NOT IN CHINA!