Which is a good thing.
As of yesterday, we’re now 1/3 of the way out of the recession, according to Kiplinger’s Recovery Index, which tracks six key economic indicators.
Yesterday, the National Association of Realtors (NAR) said that home sales rose in June, the third straight month to do so. Prices may be bottoming out after two years of decline (some say they bottomed out six months ago), but at least people are buying stuff.
Kiplinger’s: “Home sales activity is a key indicator of the economy’s health because buying a house involves such a large commitment of funds, reflecting confidence about the future. Rising home sales also show that banks are willing and able to lend, which is another requirement of a healthy economy.”
Jobless claims are still at record highs, but since unemployment lags behind other economic indicators (like the Dow, which hit 9,000 for the first time since January!), that may not be such a problem.