Home Price Increase Not Sign Of Econ. Strength
The Mercury News may have todays' report upside-down. "Strong home sales ease inflation fears" was the title. "A surprising rise in home sales restored investors' confidence in the economy and eased fears of inflation and higher interest rates."
Highly valued home prices rise even more and that is less inflationary? And if you listen to this guy, you would think rates are even more likely to be raised due to the increase. Maybe the writer is on loan from the style section. "The benevolent Michele Chandler is filling in for the waggish Jon Ann Steinmetz."