Why Is Wall Street Surprised By August Home Sales Results -- Are You?

The National Association of Realtors^® announced lower home sales for August this morning, and Wall Street expressed shock:

NAR Press Release

MarketWatch News Article

I'm not surprised? Are you? Nor do I think a tax credit is the answer. The first step is for Wall Street to look in its own back rooms and see what's happening in the foreclosure processing and short sale departments. There are other structural problems as well. I blew off steam in my other blog this morning:

Wall Street Surprised by Home Sales Results?

Tell me what you think?