The fact that the media is be shocked by the news that new home sales increased in the last month is very telling about their intelligence and ability to even think rationally. Here’s why…
Remember all the stories about how home prices were going through the roof?
Then, remember all the stories about how they’ve peaked?
Then, remember all the stories about how they were “too high” and bound to come down?
Then, remember how they came down?
Then the government wanted to save everyone from mortgages they signed in good faith, but hasn’t yet?
When the prices dropped to where the properties were worth it again, they started selling. This is called a correction in the real world, it’s called a “crisis” in Washington, especially in an election year.
Congress should do nothing about the “housing crisis” and allow the market to rebound the way it always has, when not bastardized by the government.