Housing, Durable Goods Remind Us We're Still in Recovery
.The unemployment news has been so good lately that some may have forgotten we're still in a delicate economic recovery, but Tuesday's disappointing reports on housing prices and durable goods orders serve as a reminder that the economic downturn hasn't turned around yet. Nationally, home prices fell 4 percent, to their lowest levels since 2002, CNN Money reports. And orders for durable goods (washing machines, refrigerators, etc.) fell by the same percentage thanks to a decline in airplane orders, according to Bloomberg.
The drop in durable goods sales was the steepest since January, 2009, Reuters reported. Still, despite the dose of bad economic news, stock markets are hovering above their close yesterday, and at 10 a.m. the Dow Jones Industrial Average peeked past its arbitrary goal of 13,000, registering 13,002.