Boy are you a sucker! Are you really that stupid to believe the sales numbers are from Joe & Jane buying a house? HAHAHA! Here is the truth of the matter: A VERY LARGE number of the July "sales" were banks selling foreclosed homes on their portfolio to the agencies: Fannie, VA, HUD, etc. Banks also buy back their notes at auction to protect their interest. When the homes are sold in this manner, they are recorded as a sale, even though it is a VERY DIFFERAT type of sale than the organic originations that dummies like you assume they are. Go to any agencey website and see for yourself; July was the largest to date of sales of this type. This skews the data, and presents a better picture than it really is. So much for Obammy's magic!