U.S. New-Home Sales Unexpectedly Fall to Lowest on Record (3) - Bloomberg.com

Purchases of new U.S. homes unexpectedly declined in February to the slowest pace on record and prices dropped to the lowest level since December 2003, adding to evidence the industry is floundering.

Well, first, no one will dare to hold the Obamessiah to account for such a thing as a weak economy despite his irresponsible stimulus and other equally irresponsible and wasteful fiscal measures. However, back in 2003, I recall hearing over-and-over the press and frothing-at-the-mouth liberals wailing on-and-on about the jobless recovery. But this is not my point for this post. The silver lining for weakness in housing is that with the inevitable decline in housing prices associated with the collapse in this business due to bad government policy over many many decades, that lower prices will actually help reignite certain other sectors of business. As prices fall, over time, this will lead to lower costs for housing and allow consumers to save, invest or spend in other areas. The inevitable shift away from government sponsored over-investment in housing will help more productive areas of the economy to flourish.

U.S. New-Home Sales Unexpectedly Fall to Lowest on Record (3) - Bloomberg.com