New Home Sales Jump to an 8 Month High!! What?? Double Dip in Home Sales!!

Austin Texas: New home sales rose 17.5% in December to the highest level in eight months but compared with 2009 sales are down 7.6%.

The media enjoys the emotional rollercoaster by declaring new home sale are at an 8 month high but leaves waits a few lines to compare with the poor stats from the year before.

Now comes November 2011 home prices continuing the slump falling 1% compared with October.

Elected government officials continue to repeat that the economy is rebounding and worst is past. The signs show a double dip recession heading our way. Plus the CBO estimates that the government’s debt will be over 1.5 trillion for 2011. See what the numbers were that sent Greece and Europe over the edge and it should raise the hair on the back of your neck.

The bank needs to release their holdings and offer better loans. The government needs to reduce capital gains tax, step away from government health care, unfriendly business regulations and reduce excessive spending.

If this is done then the fear of a double dip recession should fade away – hopefully since the real estate market is a major sector of the US economy and it needs to be nurtured.


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