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Thursday, September 24, 2009

Manna from homes!

From the WSJ:

On Friday, the Census Bureau reports new-home sales for August. Economists estimate an annualized sales pace of 440,000 units, flat from a year earlier.

Both reports could add to a snowballing consensus that housing is rebounding. A vigorous recovery would be manna for the economy. Home sales spur purchases of fridges and lawn mowers, and rising prices make consumers wealthier and heal bank balance sheets.

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