Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

New Home Sales Down 33%

|Includes:HTS, Annaly Capital Management, Inc. (NLY)

 We are witnessing the first slip in a long and steady slid for housing prices, with the government tax credit expired, consumers now have no incentive to take on 2, 3, or 4 hundred thousand dollars worth of debt. The combination of high unemployment, non-existent job security and very tight lending conditions have all but extinguished consumer demand. All this will lead to depressed home sales and home prices for years to come. This is the beginning of a double-dip recession, not in nominal terms but in real terms.

Disclosure: No Positions

Stocks: NLY, HTS