Another record for existing home sales - Democrats are crying

National Association of Realtors http://snipurl.com/gi0p

WASHINGTON (July 25, 2005) – Existing-home sales surpassed market expectations and reached another record in June as low mortgage interest rates and favorable market conditions continued to attract buyers, according to the National Association of Realtors.

Total existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.7 percent in June to a seasonally adjusted annual rate of 7.33 million from an upwardly revised pace of 7.14 million in May. Sales were 4.4 percent above the 7.02 million-unit level in June 2004; the previous record was 7.18 million in April of this year.

Time for conservatives such as Norman to go out and buy the biggest house they can afford, financed with an interest-only adjustable-rate loan because by the time their loan comes due, their equity will be sooooooooo much higher!

So what? You think the housing balloon is a sign of real economic growth? Is everyone paying cash?

Joe Blow

The stock market was at a record high in 1998.

If you knew economics you would know the cardinal rule: Past performance to not predict future returns.