May 27, 2011

A VARIATION ON “UNEXPECTEDLY,” ANYWAY: Pending Home Sales Plunge, Reaching Seven-Month Low. “Pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market.”

UPDATE: Consumer spending, income drop as inflation accelerates. Somebody send Obama a copy of Steve Carter’s essay.