Tag: home salesSort
Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery in the housing market continues, despite weaker job growth.
The Commerce Department said Monday that sales of new homes increased 7.6 percent in May from April to a seasonally adjusted annual rate of 369,000 homes. That's the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.
Even with the gains, the pace is less than half the 700,000 that economists consider to be healthy.
The shape of this economic recovery will not be in a “V”, as many pundits have promulgated, but instead may be the inversion of that letter…which will unfortunately look much more like a tepee. The upcoming downfall will surprise most investors who have been tricked into believing that a government can print and spend their way into prosperity.
US Dollar Forecast Turns Bullish Despite S&P 500 Winning Streak
The US Dollar gained despite the sixth-consecutive week of S&P 500 rallies, breaking its correlation to safe-haven flows and confounding forex trading markets. Fairly steady improvement in global financial market conditions has arguably decreased the US Dollar’s sensitivity to major risk barometers.