Despite how slow the market is for new home sales, when the U.S Department of Commerce releases the report on November New Home Sales (10:00 am est,
12/27/06), the accompanying headlined are very likely to report that new home sales were up. Seem crazy? For a detailed review of the New Home Sales report and and explanation of why the headines accompaning the report on Nomvember sales are likely to indicate an increase in sales, visit http://www.housingnumbers.com
It makes you wonder if the reporters have something to gain by painting a rosy picture, or if they just want a sensational headline so that they can get their name out there.
Annoying report for us waiters, sort of like watching scabs cross the picket line, but no worries.
If you recall, the stock market tanked in March of 2001 but there were still plenty of signs of hope until 9/11 delivered the final blow.
This blip, IHMO, represents people who sat on the sidelines briefly because of short-term worries but now think they are bargain hunting. They don’t believe, as we do, that the fundamentals are all wrong.
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