Home Sales!

New home sales for January 2011 were down 12.6% from December 2010, but even worse, the raw numbers were 284,000, which compares to monthly sales of 800,000 to 1 million before 2007.  That is an approximate 70% decline and suggests the recession continues on despite what the Administration, Fed, and Wall Street want you to believe.  And, mortgage applications are near the lowest levels in 15 years.