Holy cow (sorry...the Idaho in me comes out once in a while). I was amazed when I saw this report that new home sales in the US "unexpectedly" rose for the second time this year "suggesting the housing market was stabilizing". http://www.bloomberg.com/apps/news?pid=20601087&sid=aLdFv9P6imE8&refer=home
The article states that purchases increased 2.8% last month over June. Good news, right? Well not if you the whole article, which includes this bit of good news (yes, that's sarcasm): "This is July data and this is referencing a period before the seizure in credit markets," said Zoltan Pozsar, senior economist at Moody's Economy.com in West Chester, Pennsylvania, who forecast a gain of 850,000. "There are more declines to come. We'll probably hit a bottom in sales towards the end of this year."
Guess it can't all be good news...but then again, those who predict as if they know usually are wrong anyway.
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