Home sales dip 2.2 pct despite tax credits

[keepinitreal]

http://news.yahoo.com/s/ap/20100622/ap_on_bi_ge/us_home_sales;_ylt=AsfH.rMsQAngnDmYkNQLQ9.s0NUE;_ylu=X3oDMTFmYWR1YmV2BHBvcwMxMDEEc2VjA2FjY29yZGlvbl9idXNpbmVzcwRzbGsDaG9tZXNhbGVzZGlw

[albacore44]

No suprise there. Saw a real estate attorne on Cuvuto tonight who said expect another 5-6 million foreclosures over the next 3 years and prices to drop 10-25%. All these games the obama administration is playing is artificially propping up real estate , and delaying what must happen. theres a lot more uglyness ahead

[banca rotta]

Neither am I surprised buy this.

I can also hear more and more of the media blowhards now mentioning "double dip" as if we actually left the first down turn.

My next bet will be the inflationary depression that most of us predicted.

The fed for certain will open up a new money printing loan facility of some sort and flood the system with currency, but with no real production. That's usually how they react to these things.

[albacore44]

Neither am I surprised buy this.

I can also hear more and more of the media blowhards now mentioning "double dip" as if we actually left the first down turn.

My next bet will be the inflationary depression that most of us predicted.

The fed for certain will open up a new money printing loan facility of some sort and flood the system with currency, but with no real production. That's usually how they react to these things.

no. this time its going to be deflation, because they dont dare raise short term rates. Bernanke is a student of the great depression and will try not to make those mistakes again

[feelingnutsy]

I'd love to know who starts the rumors about a recovering economy.

[flyinbroke]

No suprise there. Saw a real estate attorne on Cuvuto tonight who said expect another 5-6 million foreclosures over the next 3 years and prices to drop 10-25%. All these games the obama administration is playing is artificially propping up real estate , and delaying what must happen. theres a lot more uglyness ahead

Yep, it is just another bubble that will burst. Cash for Clunkers was another phony "look how the economy has improved" until the rash of repos begins because most peoples' situations have not really changed.

The dip in housing is no shocker...the benefits are gone, and there are people who won't even get the benefits due to changes in the rules causing their home purchases to fall through.

[banca rotta]

no. this time its going to be deflation, because they dont dare raise short term rates. Bernanke is a student of the great depression and will try not to make those mistakes again

True. I jumped the gun a little

We will have another massive deflation then it will be followed by massive inflation.

Bernanke hasn't figured out that this isn't your grand fathers depression.

He said he will fight deflation at all costs so he made his intentions very clear as to what's coming.