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U.S. Housing Market Slowing

Posted by: Abhijeet Chavan

24 August 2006 - 8:00am

The housing boom that fueled the U.S. ecomony in recent years appears to be slowing down.

Sales of existing US homes have fallen to their lowest level since the start of 2004, in a fresh sign that the once red-hot housing market is cooling down...Successive interest rate rises have taken the heat out of the market, with sales of new homes also falling...The housing boom helped drive the US economy forward over the past few years.

Full Story: New sign of US housing slowdown
Source: BBC, August 22, 2006
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For the past half century we have been building communities for the wrong reasons. We built them to sell cars. This created all sorts of problems.
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