While it’s useful to keep the dream alive (and blame the weather for any weakness that ruins the “sustainable recovery” meme) the data (once again) does not support that “common knowledge” whatsoever…
The Northeast – decimated by home-sales-destroying cold weather – saw the smallest drop in sales
The West – supported by the driest and most home-sales-encouraging warm weather – saw the biggest drop in sales of all regions
So what does that do to the “recovery” meme?
Can we finally put to death the “it’s the weather’s fault” meme?
We anxiously await Joe Lavorgna’s clarification of the weather effect.