New home sales hit record low in January

Discussion in 'Economy' started by uscitizen, Feb 24, 2010.

  1. uscitizen
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    uscitizen Senior Member

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    New home sales hit record low in January
    New home sales plummet 11.2 percent in January to annual rate of 309,000, lowest on record

    Martin Crutsinger, AP Economics Writer, On Wednesday February 24, 2010, 10:22 am

    WASHINGTON (AP) -- Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.

    The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December's pace.

    New home sales hit record low in January - Yahoo! Finance
     
  2. publicprotector
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    publicprotector Member

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    Don't worry when the market finally and totally collapses they will be begging people to rent all those empty houses even if its only for a dollar a day. The parasitesd that own and operate banks will do anything for a dollar, or an Amero, Euro, or whatever they are going to call your new money.
     

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