Monday, July 02, 2012

Is That Irony I Smell?

Sniffing the salts, methinks:
WASHINGTON — Announcements of a housing recovery have become a wrongheaded rite of summer, but after several years of false hopes, evidence is accumulating that the optimists may finally be right.
Then it proceeds to say why this time it's REAL!!!  Except it isn't.  So long as huge numbers of homes are underwater and lots of foreclosures are kept off the market to hold back the flood, there will be no recovery in housing.  Since no one has been willing to do what it will take to correct, it won't correct until the economy fully recovers, and no one is doing anything to make that happen either, so no, housing isn't back.

No comments: