The new home sales numbers released today by the U.S. Commerce Department reflect a drop in sales so severe the industry is now selling homes at an all-time low, in fact, the lowest sales rates ever recorded since the government started keeping these numbers in 1963.
When the Obama tax credit expired, buyers stopped buying homes.
Very predictable, too. But at a cost of $100,000 of taxpayer money per home sold under the tax credit incentive a very predictable expensive blunder too.
Robert J. Abalos, Esq.