WASHINGTON (Reuters) – Contracts to purchase previously owned U.S. , a sign that a softer economy and a rise in mortgage rates are hurting the country’s housing market.
The National Association of Realtors said on Monday its Pending Homes Sales Index, based on contracts signed last month, to 101.6, the fourth monthly fall in a row. Economists polled by Reuters had forecast a slight increase.
since May on bets that the U.S. Federal Reserve would soon begin winding down a stimulus program, although rates have eased slightly in recent weeks.
This is a direct result of the sophistry of the economic and finance people …. across the world and their failure to recognize reality. One can make the banks solvent by printing money all one wishes. It doesn’t fix the persistent underlying problems.
The fact remains that our home values are over priced. Making money available for loans doesn’t change…
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