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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Zincman who wrote (86614)9/25/2008 10:54:55 AM
From: elmatador  Read Replies (1) of 116555
 
Sales of new homes in the U.S. fell in August to a 17-year low, signaling the housing market suffered another setback even before the latest turmoil in financial markets.

Sales dropped 11.5 percent, more than forecast, to an annual rate of 460,000, the fewest since January 1991, the Commerce Department said today in Washington. The median sales price dropped to a four-year low.
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