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Consumers Spending less, will it help home sales?
People are making a little more money now and spending less of it.  Will this put some money back into bank accounts and make them feel better on purchasing that new home?  chart below show increase in Real Personal Income.

 
 
Good article on Morningstar listed below. Section listed below shows housing thoughts from article.
 
http://news.morningstar.com/articlenet/article.aspx?id=339411&pgid=rss
 
Lots of Housing Data, Not Many InsightsThere was a plethora of housing data this week, but a soon to expire homebuyers' credit made the numbers less meaningful. Existing homes sales, new home sales, and housing prices all performed better than Wall Street's expectations; I suspected as much in last week's column. Existing home sales were up 7.8%, while new home sales were up a surprisingly strong 14.8% between March and April, and house prices really didn't change enough to move the needle. Credit or no credit, improved housing sales should lead to better sales of certain retail categories including appliances, building materials, and furniture in the months ahead.
 
 
I'm less worried now about the expiration of the homebuyers' credit than I was a month ago. I now believe substantially lower interest rates, a better employment situation, and higher consumer confidence could ... more

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