The Commerce Department reported today that sales of newly built homes posted a seasonally adjusted month to month increase of 3.1% to an annualized rate of 593,000. The department revised the August headline number down by 5.6% from 609,000 to 575,000. Without that revision the headline number this month would have been down by 2.7%. Surprise, surprise. Revise, revise.
New Home Sales - Tightrope Walk Over a Windy Canyon
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.