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Tax credits hurt U.S. housing market

Posted on 26 August 2010

From Sfgate.com: As Gomer Pyle would say, “Surprise! Surprise! Surprise!” (search that on YouTube, kids). The U.S. housing market has taken a frightening dive following the withdrawal of market-distorting federal government incentives.
Sales of existing homes have dropped 27 percent in July over June levels, and new homes at an annual rate of 12 percent, the lowest rate since the government began tracking sales in 1963. Prices are sure to follow……………………………………….Full Article: Source


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