New Home Sales Fall to a 50 Year Low: The Depression Arrives!
• ZeroHedge.comNew home sales drop to a record low adjusted annual rate of 308K. All of the government's housing stabilizing measures are now a disaster, as existing home sales inventory surges to nearly 9 months, not counting the shadow inventory, which is more th
Obama claims he wants to stop the huge number of home foreclosures, but costs of forced health insurance will destroy most Americans’ largest single asset, their home equity as values drop because individual health insurance costs will disqualify home buyers getting loans. Qualified mortgage borrowers are needed to stabilize property values of homes to secure $Trillions in bank held mortgages.