NAR – Existing home sales soft in August

The National association of Realtors announced that existing home sales eased in the second consecutive month despite record low mortgage rates. 

http://www.realtor.org/news-releases/2016/09/existing-home-sales-soften-further-in-august

“  …because supply and affordability restrictions continue to keep too many would-be buyers on the sidelines.
“  That’s me and dare I say a lot of other people that remember what happened eight years ago. 

Hey, maybe I’m drawn to gloomy economic news therefore that’s all I read. Maybe I’m stuck in a loop of bad economic news where each link from a website leads to a similar blog or news story that also has gloomy economic news. After all I have been short the stock market for most of the year and have had my ass handed to me. I could be wrong. 

Thanks to the Fed being pussies we have a record high on the Nasdaq despite lower and lower earnings, tons of layoffs, tons of store closures, lot’s of funny accounting practices and tons of useless buybacks that only serve to prop us stock prices. 

But hey,  maybe it’s different this time. 

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