Neubarth
At the Ballpark July 30th
Washington in their effort to get people to think that the Depression is lifting issued news releases that loudly proclaimed that Existing Home sales soared ten percent in October.
That was not true, as are most of the news releases since Obama took office. Auctions of foreclosed houses were fifteen percent of existing home sales. Add to that the fact that most of those auctioned houses were sold immediately for a quick twelve to fourteen percent gain. That double sale was thirty percent of the Existing home sales. If you just take the bank auctioned sales out, sales fell five percent. If you take the resale of the auctioned homes, sales fell twenty percent. We are in a sheetload of trouble in this country as the Depression widens daily.
That was not true, as are most of the news releases since Obama took office. Auctions of foreclosed houses were fifteen percent of existing home sales. Add to that the fact that most of those auctioned houses were sold immediately for a quick twelve to fourteen percent gain. That double sale was thirty percent of the Existing home sales. If you just take the bank auctioned sales out, sales fell five percent. If you take the resale of the auctioned homes, sales fell twenty percent. We are in a sheetload of trouble in this country as the Depression widens daily.