Monday, July 27, 2009

Are We Feeling Better?

The Lehmann Letter ©

Today the Census Bureau announced 384,000 new homes sold in June. That’s the best report since last November and was greeted as good news.

But look at the chart.

New Home Sales

(Click on image to enlarge.)

Recessions shaded

New home sales remain mired in a deep slump. We’ve got to climb well past 400,000 before rejoicing. Half-a-million would help.

(The chart was taken from [Click on Seminars and then Charts.] Go there for additional charts on the economy and a list of economic indicators.)

© 2009 Michael B. Lehmann

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