Consumer confidence drops - MA housing sales hit 10 year low

Lots of mixed signals in the economy at the moment. There is plenty of information that suggests an improving economy in the short term but with the deficit and high oil prices sticking around for a while it is still very delicate. Add to that the tanking real estate market and it's no surprise that there is some concern out there, rightly so.

One of the hottest real estate markets in recent years is now falling off of a cliff, hitting a ten year low. I always thought that Greenspan's rubbish about frothy markets and not a national bubble was one of his lowest and most ridiculous moments. If the bubble bursts in the middle of Wyoming, sure, who cares? But when it bursts in a major state and is followed by another major market, what the hell do you think will happen? Well for starters, consumer confidence drops.