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Houseing recollapse unexpected?….

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Tell me again why anyone pays attention to these guys. The “experts”, picked out by the media, I guess, haven’t a clue. Just what is so hard to understand that we are broke and need a breather to pay off debts. Unemployed broke dicks can barely buy food let alone buy houses.  This is not going away.

Expect more bailouts as the Dems get their asses kicked in the polls. Soon enough Repubs will join them as their money bags on Wall Street get nowhere as the economy goes flat. This will be the pattern as the government has to prop up consumer spending or face being booted down the road.

But the next boom is coming. A trillion here and a trillion there eventually hits home and the average guy finally joins the party because they can’t save jack shit and need handouts to buy Chinese trinkets here at Walmart and buy food at Micky D’s. Whether we survive the boom remains to be seen. No other Empire has done it.

I wouldn’t want to be living in Ayatollah country over the next ten years or so. They’ have a targets printed in capital letters spelled OIL found here.

Existing Home Sales Fall Unexpectedly in May – CNBC

Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday.

AP

The National Association of Realtors said sales fell 2.2 percent month over month to an annual rate of 5.66 million units from an upwardly revised 5.79 million-unit pace in April.

Analysts polled by Reuters expected May sales to rise 5.5 percent to a 6.12 million-unit pace from the previously reported 5.77 million units in April. Sales were up 19.2 percent compared to May last year.

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Written by mrcauser

June 23, 2010 at 7:33 pm

Posted in Uncategorized

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