Housing Market Woes

The housing market continues to do poorly. The supply of homes for February rose 9.8% to 8.6 months’ of supply from 7.8 months’ of supply in January. It is amazing that the markets took this as a good sign or at the least some commentators tried to paint this as good news. Economy is doing terrible and only very few people are getting any help from the bubble in the stockmarkets considering 57% of the stockmarket is owned by the top 1% of Americans and 86% of it by the top 20%. Neither of these two groups make up too much of the 70% of the US GDP, which is consumer spending. Most of the people who make up that 70% are either unemployed or cutting back huge. The current levels in the markets are unsustainable. The one market that glitters and offers hope for the future is the physical gold market.