February’s report is more good news! But if one does not think about it critically, it might not appear to be so.

Comparing Data with 2008:

We all know that 2008 was a bad year, first for the housing market, and then for the overall economy. Buyers were difficult to find anywhere, inventory continued to climb to record numbers, more and more sellers moved from default to foreclosure because they could not sell, and by the 4th quarter the patient was completely comatose. The national economy entered a recession in early 2008. There was still significant fall-out from the sub-prime debacle, oil prices shot up dramatically and grounded most people and robbed others of their economic viability, and in mid-September, the financial sector crashed, credit froze, most of the national investment institutions failed in one way or another; many banks were seriously undercapitalized requiring dramatic intervention of the US Government. Wow!
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