New home sales plummet 11 percent in January, the 3rd monthly decline in a row
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who were expecting a 5 percent increase over December's pace.
Those economists, they're a caution, ain't they? They always seem to be "surprised". Well, I'm surprised to read that tax dollars have been wasted thusly for nearly a half century. What kind of man would degrade himself to a job where he watches and records useless details of other men's work. A tax parasite, that's what kind.
While winter storms were partly to blame, home sales have fallen for three straight months despite sweeping government support.
Have you ever noticed that our government always blames the weather? Here's something to think about. A new home takes longer to get a permit than to build it. When you take into account buying the land, the drawing of plans, bidding things out, and scraping the money together, a new home is conceived over a year in advance. And as for bad weather, the last stages of home construction are inside a weatherproof building. So weather is a horse-shit issue. However, the "sweeping government support" would definitely throw a big monkey wrench in home sales.
The drop in sales pushed the median sales price down to $203,500.
Each new home built, for example, creates about three jobs for a year and generates about $90,000 in taxes paid to local and federal authorities, according to the National Association of Home Builders.
OK, all you math wizards get out your calculators. It seems the government economists forgot to crunch a couple of numbers. A new home is 44% tax. It would be interesting to see the effect on new home construction if a "tax holiday" were benevolently bestowed upon U. S. citizens. But then the banks would be screwed out of 44% of their loan business, so that'll never happen. Do you still think government is a good thing?