Let's start with the bad news as we seem to be used to it - or numb to it. But first, let me qualify. There is plenty of bad news on multiple fronts. I am just giving you a piece on the real estate front. New home sales at are a record low. Mind you, the records started in 1963, so it is just a 46 year old record, but impressive nonetheless.
http://www.calculatedriskblog.com/2009/02/summary-post-new-home-sales-at-record.html
And the good news is also on the real estate front - go figure. I am not finding the specifics at the moment but the home sales in certain parts of California have improved over last year substantially. Mind you over half the sales are foreclosures or short sales and property prices have dropped 41%, but it seems a 41% drop is a pretty good bottom for now. Now we just need the rest of the country to drop that much and things will be dandy.
Disclosures: None.
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