The AP’s story on housing prices is 180 degrees from where it needs to be:
The number of buyers who signed contracts to purchase homes dropped in May to the lowest level on record, a sign the housing recovery can’t survive without government incentives.
No, home prices dropped to a record low because of government incentives. The AP’s ignorance here is shocking. Let me just reproduce the graph:
The home buyer’s tax credit expired in April, which created a government incentive for people to shift their home purchases ahead of schedule.
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