Monday, July 27, 2009

Big Housing News Rolling in this Summer

December 2008 was a long time ago in the time frame of economic events, but that was when I first said that I "expect to see housing construction resume next summer". I reiterated that prediction at in April.

Almost nine months after my prediction, the headlilne today is "New Home Sales Soar in June". "The last time sales rose so dramatically was in December 2000. Sales have risen for three straight months."

Supposedly supply and demand are not applicable any more, but I am not aware of any other framework that generated this prediction so far in advance!

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