Over the last few week’s I have been dismayed by the conflicting signals generated from the economic data pertaining to the housing market and the health of the economy.
As you can tell from a number of my previous posts, its been on my mind quite a bit. I am not sure if its that the collection and presentation of data is worse, the results are misleading because they are too macro-orientated or that we simply have started to pay attention and question the results now that the housing market is shifting gears.
In Michael J. Martinez’s article on Sunday Is Housing Market Strong? Ask the 8 Ball [AP/WP] he laments over the same issue and expands on the contradictions seen in various statistics released every month.
But the new home sale drop seems to better the odds [TheStreet.com] that the Fed will take a break from raising rates after the expected increase tomorrow.