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The Turkey ran off with the Houses, too!

Posted on November 26, 2008 at 10:21 in Market Analysis by Tim Salem

An update, everyone!

Our Turkey seems to be insatiable before the Thanksgiving Holiday…I guess Durable Goods was not enough for his appetite!

Running away with New Home Sales at the worst levels since 1991…he has plenty of new construction to gobble up, doesn’t he!

New Home Sales off a good 20K since last month, down to 433K units sold.

Our macro Indexes…Chicago PMI and Michigan Consumer Sentiment clock in at 33.8 and 55.3 respectively…indicating the overall economic “contraction” continues on its’ destructive path.

Clearly today’s Data Points are simply more verification of what we already know…that the United States economy as a whole is still in dire straits…hence Global economic health is moving right along with it.

Our Turkey may go to table tomorrow…but with these Numbers today…He may continue to eat in the “afterlife”…   :-)

 

Tags: economy, global, Home Sales, Index, real estate

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