National Note:New Home Sales drop 82% since 2005…Worse than Great Depression
New home sales fell Eighty percent from 1929 to 1932, an infamous time in US history where the economy imploded in spectacular fashion thanks to Wall Street speculation and massive debt leverage.
In comparison, during the recent Great Recession, new home sales have fallen an astonishing Eighty Two percent from there 2005 peak. See the graph below regarding new home sales since 1960 and the free-fall ride since 2006.
*source: doctor housing bubble
By John Skinner
