'I was right, the housing recovery was a sham': The Guardian’s Heidi Moore
http://finance.yahoo.com/blogs/daily-ticker/i-was-right--the-housing-recovery-was-a-sham--guardian-s-heidi-moore-191918931.html
The housing market appears to be hurting. Last week we learned that sales of new homes plunged 14.5% in March compared to February, while sales of existing homes fell slightly month-to-month, too. Meanwhile, demand for home loans have hit a 14-year low in the first quarter, according to industry newsletter Inside Mortgage Finance.
But today the National Association of Realtors reported that pending home sales in March rose for the first time in nine months. They were up 3.4% from February, but down 7.9% from a year ago.
Heidi Moore, U.S. finance and economics editor at The Guardian, called the housing recovery a sham last June and in the video above says the latest run of weak data suggests the same concerns she raised when the recovery was humming along last summer. Moore says the recent slowdown reveals the recovery was in fact “dubious” and based on investor demand versus real homebuyers.
(Article does continue. Zim.)
(By the way . . what does an unemployment rate of almost 7% signify?)
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