Today’s new-home sales report from the Census Bureau is as depressing as the last report:
http://www.census.gov/const/newressales.pdf
319,000 new homes were sold in May. Take a look at the chart and you can see we’re bumping along the bottom.
New Home Sales
(Click on chart to enlarge.)
Recessions shaded
Here’s the deal: No construction recovery = No prosperity.
Slack home sales = Slack recovery.
It’s as simple as that.
(The chart was taken from http://www.beyourowneconomist.com. [Click on Seminars and then Charts.] Go there for additional charts on the economy and a list of economic indicators.)
© 2011 Michael B. Lehmann
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