Sold At The Top submits:
Although I’m not surprised by today’s new home sales results, the lack of coverage of this important housing indicator breaking to a new all time low leaves me with a sense of… let’s call it ironic incredulity.
For those who have not been following along, this series was fingered early last year as one of the most notable “Green Shoots” economic developments as, prompted by the immense government stimuli, it began turning up from an all time low of 329,000 seasonally adjusted annualized units.