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To: John Pitera who wrote (53095)7/26/1999 10:19:00 AM
From: Defrocked  Read Replies (2) | Respond to of 86076
 
Back on topic: The 10.6% rise in June existing home
sales is a record and IMHO indicative of the underlying
strength of the US economy. Furthermore, the increasing
turnover of US housing stock continues unabated despite
the rise in mortgage rates suggesting that the wealth
effect from stocks is moving into real activity and will
eventually show up in the price indices. BWDIK.