Housing, Jobless Still Struggle with Obama

Source: American Crossroads

CHANGE WORSE THAN TRADITIONAL BUSINESS-CYCLE LOW

Record-low sales for new U.S. homes

Economists expected increase

Existing-home sales also drop 9.6% in February

Obama Spending Put Nation Off Track after Housing Bust, Recession

From MarketWatch:

WASHINGTON — Sales of new single-family homes collapsed in February, the Commerce Department reported Wednesday, as a combination of high unemployment, tumbling prices and a glut of cheaper alternatives brought activity to a near-standstill.

New-home sales fell 16.9% to a seasonally adjusted annual rate of 250,000 in February, though January’s figures were revised higher to 301,000 from 284,000. Compared to February 2010, sales collapsed by 28%.

Read the full article here.

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2 thoughts on “Housing, Jobless Still Struggle with Obama

  1. The new-home sales numbers for February came out and they are horrible. This is also the lowest 12 months ever, with sales of 349,000 new homes.

    • Hello Alphonse Quinn,

      Thank you for your comment!

      Barack Obama should have warned Americans on the campaign trail that his change is for the worse: people who are underwater with mortgage debt worth more than their homes are less flexible to pursue scarce jobs.

      The coming election gives us a chance to lead again from the Oval Office, with a focus on fixing what went wrong with the 2008 financial crisis (housing bust, job losses) and without being distracted by a mostly irrelevant health-spending bill.

      Sincerely,
      Ronald Grey

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