November New Home Sales Plunge

Link here.

It's not bad enough that the government is encouraging a reduction in the glut of homes for sale by attempting to direct economic activity without understanding the root cause of this crisis. Government meddling is why we have an economic crisis in the first place. In the end, these incentives to reduce the housing inventory glut will fail because as we have stated countless times over the last four years, the problem is not housing. As we have said, that everyone if focused on housing is because that is what they understand, not because they are right. In fact, we wrote numerous times on here that it is impossible for housing to create the crisis we see before us. A free holiday gift to drive this point home will be posted by the end of the year or the first week of January. In the mean time we keep seeing the same asinine government policy that is creating future economic problems. That being incentives to reduce the housing glut. It's the same foolish policy that was cash for clunkers. We saw how that ended. The government, ie taxpayers, basically bought new cars for its participants. A lovely policy indeed.

Btw, I love the headlines every time bad data comes out. It is always unexpected. Unexpected to whom? The status quo?