Have you been hearing all the blather about the housing recovery lately? The shills and shysters on CNBC and trotted out from the NAR and Wall Street criminal banks have been proclaiming a turnaround in the housing market. Home builder stocks have been soaring because they just know things are getting better. Well the story shit the bed this morning. You see 2011 finished with lowest new home sales in the history of record keeping. There were a total of 302,000 new home sales in all of 2011. The records go back to 1963 when 500,000 new homes were sold. There were 189 million people living in the U.S. in 1963. Today there are 310 million people. So the population is 64% greater and new home sales are 40% lower than in 1963. I wonder why? Could it be that our country is drowning in debt today and in 1963 we had virtually no debt in our society? No credit cards in 1963. People worked and saved until they could afford a house or a car. They paid cash for stuff they wanted or needed.
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