Housing Boost

Pre-existing house sales are up. Certainly this is a boost to the economy.

Still there is a caveat as it is in part due to a first time home buyer credit vis-a-vis the stimulus, and a housing market that has lost value. It simple terms, its a buyers market and Uncle Sam is kicking in some dough to make it more tasty. That's all great except for the sellers' angst and money hit.

Its an American adage right, your pain is our gain.

Reuters: U.S. existing home sales seen at highest since July 2007

...buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit.

CNN: Existing home sales at highest level since 2007

...according to a real estate industry report issued Monday.