The media did make a fuss about this May's abysmal pending home sales report (So I have to give them credit for that). However, they glossed over one key point. Read:
The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in May, fell 3.5 percent to 97.7 from a downwardly revised level of 101.2 in April. The May index is the lowest since 89.8 in September 2001. via the International Business Times -.
Um... didn't something really bad happen in September 2001? I can't quite put my finger on it...
Oh yeah... that 9/11 thing...
I mean, it's really, really, really bad when the only month you can find worse is the one where our country was attacked, thousands of people died and billions of dollars of damage was caused.
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