Wall Street robbed Americans of their salaries and found plenty of profit from it. It is time to return the equity to the American people and not stockholders. This is necessary and not a larking for votes.
September 26, 2016
By Sho Chandra
Purchases of new U.S. homes dropped (click here) in August after surging a month earlier to the fastest pace since 2007, representing a pause in momentum within residential real estate.
Sales fell 7.6 percent to a 609,000 annualized pace, from a revised 659,000 rate in the prior month that was the strongest since October 2007, figures from the Commerce Department showed Monday in Washington. The median forecast in a Bloomberg survey called for 600,000. Prices fell from a year earlier to the lowest level in almost two years.
Even with the decline in purchases last month, builder backlogs increased as the number of homes sold but not yet started climbed to a nine-year high. The pace of demand will help support further construction, ensuring the residential real-estate industry remains a help to the economy....
