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Obama Boom: Home sales drop

by Phantom Ace ( 2 Comments › )
Filed under Barack Obama, Economy, Headlines, Misery Index, Progressives at July 20th, 2011 - 3:53 pm

The real estate market is in a depression. Despite all the stimulus and low interest rates, housing is in the dumps. Sales of used homes, declined in June. Once again, this is unexpected by economists.

WASHINGTON (Reuters) – Sales of previously owned homes hit a seven-month low in June as demand for condominiums fell and contract cancellations surged, dampening hopes the distressed housing market was starting to improve.

The National Association of Realtors said on Wednesday sales fell 0.8 percent last month from May to an annual rate of 4.77 million units, the lowest since November, and declining for a third straight month.

Economists had expected sales to rise to a 4.90 million-unit pace

I’m still shocked economists still believe in the Obama Boom lie. They should by now realize Obama’s policies have failed. The Obama depression continues apace!

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This entry was posted on Wednesday, July 20th, 2011 at 3:53 pm and is filed under Barack Obama, Economy, Headlines, Misery Index, Progressives. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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