
IPFS News Link • Housing
The "Oh Crap" Moment For Housing Is Now In The Can
• zerohedge.comReal estate guru Mark Hanson updates his housing view following this week's dismal housing industry data:
Sept. Pending Sales... the largest MoM drop since Sept 2001... not 2011... yes, 2001.Don't let them tell you 'this is normal for Sept'. The 'oh-crap' moment is now in the can. Going forward, "Existing Sales" volume will disappoint on a YoY basis for several quarters. There is no way around it...
Fool me once, shame on you; fool me twice, shame on me; fool me thrice, shame on the Fed...