Some good news would be nice for a change but the economy remains ugly and will only get worse. It's a relief to see Obama continuing to reach out and build his economic team. Compared to the economy, everything else is secondary.
Sales of newly built U.S. single-family homes dropped sharply in October and were running at levels last seen 17-1/2 years ago, according to a Commerce Department report on Wednesday that offered a fresh measure of the U.S. housing sector's distress..
The annual sales pace of 433,000 was down 5.3 percent from a revised 457,000 in September and was the weakest since 401,000 in January 1991.
Wall Street economists had forecast that October sales would be at 450,000-unit pace.
The median sales price fell to $218,000 from $221,700 in September and was the lowest since September 2004 when it was at $211,600.
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