Is Our Economy Getting Better?

Sales of new homes plunged to a new low of 26.4 percent last year. According to the government report the median price of a new home is at the poorest showing since prices fell by 2.4 percent during the 1991 housing downturn even though we had a light up turn of a slight 0.2 percent. With a slump close to surpassing the housing recession of the early 1980s, it reinforces the view that the housing industry is at its worst downturn in more than two decades. The bad side is that the housing is going to continue with the foreclosure older homes filling up the market. The up side will be for the buyer. The down side will be against the seller.