The mainstream media likes to give short shrift to the second half of the NAR's misnamed monthly report on "Existing Home Sales." Yes, they're existing homes. No they're not sales, they're sale closings. The sale takes place when the contract is signed. The NAR calls that "Pending Home Sales." When the contract is signed, the buyer and seller have agreed on the price, the Sold sign goes up, and the house comes off the market. SOLD!
Housing Zombie Bubble Revival Prices Continue to Radically Inflate
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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.