Thursday, April 29, 2010

That housing sales boom is without foundation

The New York Post reports:
take a look at the March figures in light of other years.

If you ask the government -- and you do have to ask -- it will tell you that 38,000 new homes sold this March.

There's more:
Going backwards, there were: 80,000 new homes sold in March 2007; 108,000 in March '06; 127,000 in March '05 and 123,000 in March of '04.

Heck, you'd have to go all the way back to the early 1980s to find a March with new-homes sales at the 30,000-level. And back then, the economy was a mess and mortgage rates were in the double-digits.


The boom.