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Monday, December 09, 2019

U.S. New Home Sales Hit Six-Year High

@AFP

Washington (AFP) — Sales of new homes in the United States in May hit their highest pace since the market crashed six years ago, as the industry pulls out of the winter lull.

Sales picked up to an annual pace of 504,000 units, compared to a 425,000-unit pace in April, and were nearly 17 percent higher than a year ago, the Commerce Department said Tuesday.

The median price of new homes sold rose as well, hitting $282,000, compared to $263,700 in May 2013.

But the stock of homes on the market tightened, with a 4.5-month supply, compared to 5.3 months in April.

Jim O’Sullivan, an economist with High Frequency Economics, said the jump in sales was much larger than expected, and although the data is volatile, it adds to other signs of a pickup in the real estate sector.

“The housing recovery appears to be getting back on track,” he said.

AFP Photo / Joe Raedle

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Tape of home invasion attack on Nancy Pelosi's husband Paul Pelosi

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Video released Friday of the harrowing home invasion and assault that nearly killed then-Speaker Nancy Pelosi’s husband in October brought little in the way of self-reflection or regret from far-right Internet trolls and Fox News stars who spent months baselessly insisting that the attack had actually resulted from a gay tryst gone wrong. Instead, the denizens of the right-wing conspiracy theory ecosystem either claimed that the new evidence proved that they were right all along, or used it to float additional conspiracy theories about why it hadn’t been released earlier.

The key facts were available within hours of the October 28, 2022, attack. Law enforcement swiftly alleged that David DePape broke into the Democratic leader’s home in the middle of the night seeking to harm her and pummeled her 82-year-old husband Paul, sending him to the hospital for emergency surgery. Journalists who reviewed DePape’s Internet history subsequently revealed that he had been radicalized online and espoused a wide array of right-wing conspiracy theories, including QAnon.

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