"Reuters falls back on its favorite adverb when delivering bad economic news, in one of the most expected events in economic journalism: 'Sales of newly built U.S. single-family homes fell unexpectedly in December, data showed on Wednesday, the latest indication that the government-led housing recovery might be losing some steam.'
How “unexpected” could this possibly be? In the last four weeks. we’ve learned that:
- US “unexpectedly” lost 85,000 jobs in December
- Overall home sales “unexpectedly” dropped 16% in November
- Foreclosures rose “unexpectedly”
- New housing starts fell “unexpectedly” in December
- Builder sentiment “unexpectedly” fell this month
- Home resales “unexpectedly” plunged in December faster than ever before