Drop in Home Sales in Wake of Tax Credit Far More Substantial Than Expected

[Karmadillo]

http://online.wsj.com/article/SB10001424052748704080104575286760022273010.html?mod=WSJ_hps_LEFTWhatsNews

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Economists and real estate analysts expected home sales to slow after the tax credit, of as much as $8,000, expired at the end of April. But early data from real estate brokers indicate that the sales decline has been far more substantial than expected, with some markets showing declines of 25% to 30%.

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[WestSeattle2]

1. Yikes. That is substantial. n/t

[Taitertots]

2. It is obvious this would happen

Just wait until the FED stops quantitative easing if you want to see the same thing happen again.

[lib2DaBone]

3. People need a JOB to buy a house....

This highly technical and illusive fact seems to escape Mr. Obama and CONgress.