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Date Posted: 12:53:58 06/24/10 Thu
Author: Jeffman
Subject: Re: Home sales lowest on record for May
In reply to: Paul Davis 's message, "Home sales lowest on record for May" on 08:13:58 06/24/10 Thu

true.. many of these homebuyers would have bought homes anyway but either accelerated their plans to get the credit or held off buying to get the credit. We really didnt accomplish anything with this credit except to put the country in further debt.

Any spending of the US govt for stimulus has to be in finding ways to get people working. All else is just spending.


>Which is the problem with short term stimulus, if you
>quit before normal demand is restored, you just moved
>demand forwards and make it worse at the far end.
>
> >href="http://www.businessweek.com/news/2010-06-23/sales
>-of-u-s-new-homes-plunged-in-may-to-record-low.html">ht
>tp://www.businessweek.com/news/2010-06-23/sales-of-u-s-
>new-homes-plunged-in-may-to-record-low.html
>
>June 23 (Bloomberg) -- Purchases of U.S. new homes
>fell in May to the lowest level on record after a tax
>credit expired, showing the market remains dependent
>on government support.

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