Friday, February 24, 2006

Brace Yourself, New Numbers Coming

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Next week will see the release of two vital reports to the housing market. First, on Monday, the new home sales report for the month of January is due. Then, on Tuesday, existing home sales data for January will be released, as will the fourth-quarter preliminary GDP report.

Some are worried about what those numbers will show, as reported by Reuters today:
"There's been a great focus as to whether we have a housing bubble and if housing is dying or not," said Andre Bakhos, president of Princeton Financial Group in Princeton, New Jersey. "Housing in general has been a driving force in the economy. If housing is dying, it's the end of the line for what's driven the economy."
That's a "no-duh" quote if ever I seen one.

— The Boy in the Big Housing Bubble