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New Home Sales Rise 5% In November, Back To 1995 Levels (Beginning Of Bubble)

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

1995 lives on in infamy as the beginning of the mortgage credit bubble that nearly destroyed the financial system and left millions of households facing foreclosure.

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But at least new home sales have finally struggled back to 1995 levels after posting a 5.15% gain in November.


The Midwest saw the largest gain at +43.75%. The West, the land of uber-underfunded public employee pension plans, was second at 7.69%.


And the homeownership rate is lower today than in 1995 when the National Homeownership Strategy went live.


Here is a photo of Bill Clinton when his infamous National Homeownership Strategy is mentioned.

Chelsea Clinton, daughter of Hillary Clinton and former President Bill Clinton watch during the second presidential debate sbetween Republican presidential nominee Donald Trump and Democratic presidential nominee Hillary Clinton at Washington University in St. Louis, Sunday, Oct. 9, 2016. (Jim Bourg/Pool via AP)

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