
As Housing Meets Its Match, New Thrills

By Steven Smith
About this article:
Well, the numbers on new home sales were weaker than expected but maybe not as bad as had been feared.
Like a roller coaster ride, the first drop from the peak leaves a pit in your stomach but each successive decline becomes easier to anticipate and less scary. And at some point in the ride, even though you know there's further to descend before it's safe to get off, people become braver, peeling their palms from the hand rail and ultimately arriving at the bottom with their hands in the air, exuberant but exhausted. The question is how quickly people want to get back on the same ride.
So despite another round of lousy numbers, from the abovementioned economic report and KB Home, the market has become acclimated to the descent of housing and no longer views it as the biggest, baddest event in the economic ballpark....

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