A diary of the thought process behind my investment decisions
Existing Home Sales
The existing home sales number is coming out at 10:00 AM. I expect the number to come in low as many rushed to close by November, in order to qualify for the first time buyer tax credit. The effect should be similar to the aftermath of Cash For Clunkers. I am aware of the fact that the tax credit was extended but the sense of urgency that buyers had is now gone.