New home sales plunge 33% in May

How's that recovery in the housing industry going?

http://www.marketwatch.com/story/new-home-sales-plunge-33-to-record-low-in-may-2010-06-23

Not only have May new home sales dropped to a record low since statistics have been recorded, but March and April figures have been revised lower also.

This is consistent with my thesis that this "jobless" recovery is not a recovery at all. Watch how government economists and the financial media try to spin this latest data.