Home Sales Plummet 32 % to worst level since early 1960′s | The Age of Obama.
That’s how I like to see the economy burgeoning in the ‘Age of Obama’ 
where the preponderance of jobs are created with bribes and stimulus scams that do nothing but spook the private sector and fill up the government payrolls. The government that’s now filled with about 70% democrats if not even higher than that.
Perhaps Americans not in the political scene now know why as voters we never assign unfettered power to one party like this, and frankly after the next election we’ll begin to see the impending death of the 2 party system and not a day too soon.
The Commerce Department said sales dropped a record 32.7 percent to a 300,000 unit annual rate, the lowest level since record keeping started in 1963, from a downwardly revised 446,000 units in April. The fall unwound two months of gains, which had been inspired by a government tax credit for home buyers.
Prospective home owners had to sign contracts by April 30.
Analysts polled by Reuters had forecast new home sales sliding to a 410,000 unit-pace from April’s previously reported 504,000 units. New home sales are measured at contract signing. A report on Tuesday showed sales of previously owned homes, which are recorded at contract closing, fell unexpectedly in May. May New Home Sales Plunge to Record Low – CNBC
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