Tuesday, August 10, 2010

With Tax Credits Gone, July Home Sales Plunge

From the Tennessean: "David Penn, the director of the Business and Economic Research Center at Middle Tennessee State University, said consumers still are cautious about spending and worried about job security. Employers, in turn, aren't hiring because consumers aren't spending. 'That's a nasty vicious cycle that could keep us sideways for who knows how long,' he said. Penn said it would take another two to three months of housing data to know whether the housing market will improve without the stimulus."