The latest stock rally on Monday 10-15 was ignited
by news that home starts had increased. But Wall St forgot that housing
STARTS don't equate to home SALES. Home starts -- building -- only add
to an already-bloated inventory! That is DEFLATIONARY, and is not a
sign off recovery!
Now, reality returns to Wall St! Today, we learn that existing home SALES have declined. There is NO housing recovery!
Now, reality returns to Wall St! Today, we learn that existing home SALES have declined. There is NO housing recovery!