There were 19,000 new homes sold in February

[pscot]

http://www.philly.com/philly/business/118560294.html


Sales of newly constructed homes unexpectedly hit the skids in February, falling to the lowest level reported in more than four decades, the Census Bureau said Wednesday.

February's 19,000 single-family-home sales nationwide made it the worst month since record-keeping began in 1963, knocking out the previous low of 21,000 in January.

[xchrom]

1. recommend

[PJPhreak]

2. Green Shoots,My Ass...More like Dead Weeds! nt

[pscot]

3. The real economy

is dead in the water.

[stevebreeze]

4. any guess how big those houses were?

I build custom staircases. We haven't build an ordinary person house in years. All giant McMansions.

[jtuck004]

5. I wonder how many new manufacturing businesses were started.

The only reason housing was important is that all the building (and its associated debt) covered up the loss of our wealth-creating
capactiy over the 40 or so years we got rid of our manufacturing base.

People still seem fixated on it - they are looking at the wrong thing. (And as the post below says the houses being built are
still McMansions, because the very wealthy have most of the private wealth).

I'm waiting for the giant sucking sound to begin - it's either gonna come from everyone pulling their head out to see what's really important,
or the noise we make as we drop down the drain we are circling.

thank you for the post.

[BR_Parkway]

6. "Unexpectely" - just goes to show the writers really have no clue

about the real world or they're being told to keep puffing up how glorious the recovery is for the average Joe.

When there are daily reports about nearly 20% of the homes in Florida sitting vacant, nearly 14% nationwide, that 23% of the current homeowners are locked into a mortgage that exceeds the value of the house....

The only "unexpected" thing is that they managed to sell 19,000 new houses