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February 5, 2012 1:58 AM EST
Not As Bad As Feared

Last week started with housing data destined to disappoint. The post-stimulus housing demand numbers were staggeringly poor, justifying my own previously expressed pessimism. Existing Home Sales fell 27.2 and New Home Sales down 12.4%. Home prices rose, but only because of the mix of homes being sold. Under the stimulus plan, which gave first-time homebuyers a large $8,000 tax credit, the emphasis was on the lower priced homes, bringing down t... full story >>


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