If you make your living by building or selling new homes in the United States,
you might want to consider taking up a different career for a while.
New homes sales in the United States hit yet another new all-time record low in the month of February,
and there are a whole lot of reasons why new home sales are going to stay extremely low
for an extended period of time.
The massive wave of foreclosures that we have seen has produced a giant glut of unsold homes in the marketplace,
mortgage lenders are making it really hard to get approved for home loans,
unemployment is still rampant
and the global economy looks like it may soon plunge into another major recession.
None of those things is good news for the new home construction industry.