MADE IN DC: New Home Sales Fall Again as Washington Democrats Believe Economy Has “Vastly Improved”

July 28, 2011

New Home Sales Fall Again as Washington Democrats Believe Economy Has “Vastly Improved”
June Home Sales Numbers Prove Washington Democrats Are Not Making Economy Any Better

DC DEMOCRATS STILL DON’T GET IT: Despite bleak housing prices and high unemployment rates for the month of June, Washington Democrats still think they are doing a stellar job:

“Well, two things remain uncontestably true. The economy is vastly improved from what it was when Barack Obama was sworn into office as president.” (“Carney: Economy Has ‘Vastly Improved’ Since Obama Was Sworn In,” Real Clear Politics, 7/21/2011)

MADE IN WASHINGTON, DC: While out-of-touch Washington Democrats continue to provide lip service on an economy that they believe has “improved,” struggling American families are still facing the harsh realities of a worsening economy. And the numbers just don’t lie:

“Home prices and sales of new homes lost ground in recent months, with real-estate agents and builders saying the debt-ceiling debate in Washington is rattling an already-fragile market.

“According to the Standard & Poor’s Case-Shiller home price index, released Tuesday, prices for existing homes in 20 major U.S. cities fell 4.5% in May from a year earlier, with declines stretching from coast to coast. Only Washington, D.C., saw a year-over-year increase. Compared with April, prices in May were virtually unchanged on a seasonally adjusted basis.

“’If you’re looking for the light at the end of the tunnel, we don’t have it,’ said David Blitzer, chairman of S&P’s index committee, ‘We all agree the market ain’t going anyplace at all.’” (Wesley Lowery, “Home Sales, Prices Reflect Malaise,” Wall Street Journal, 7/27/2011)

###