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New Home Sales Plummet 33%

It’s almost, almost, as if the economic recovery isn’t going as well as we’ve been led to believe.

According to the Commerce Department, new home sales dropped a staggering 33% in the month of May.   In case you’re wondering, yes.  A 33% decline was enough to bring sales figures to an all time low.  Most of the drop was attributed to the fact that would be home buyers no longer receive tax credits for their purchases.

So, let me get this straight, when buying a home lowered your taxes, people bought homes!  Shocking. 

Bear with me, but isn’t this enough to make one think that, if we just lowered taxes across the board, sales might rebound?

What’s that?  Democrats don’t think that way?  Oh.  OK.

- Robert Laurie

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