CHANGE: December home sales down nearly 17 percent: Home sales plunge nearly 17 percent in December after tax credit deadline extended. “Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.” More dramatically than expected, eh? UPDATE: Bill Gates Says Recovery Will Take Years: “Although there have been signs of economic improvement in recent months, as well as a collective sense of optimism in the IT industry that spending could rebound this year, there’s little concrete evidence to indicate that this is anything more than wishful thinking. And if unemployment remains high, the dreaded ‘S’ word — stagflation — could begin to creep into discussions about the economy. Gates said even when the economy does improve the government will have to institute systemic changes in order for any real rebound to take root. |
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