Kerplunk!

Well at least this means interest rates will stay low and the investing class will continue to make out like bandits in their stock portfolios.  You ordinary, hard working Americans will be left further and further behind. 

Sales of new single-family houses in July 2013 were at a seasonally adjusted annual rate of 394,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 13.4 percent (±14.5%)* below the revised June rate of 455,000...

As we said in February, there will be a recession in the 2nd term. Here's to all the hopey, changey idolitors feeling proud about their rejection of fundamentally sound economics.