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Why Housing Isn’t As Cheap as It Looks

A growing number of economists and policy makers are faulting last summer’s spike in mortgage rates for a broad slowdown in housing activity that began last fall.

Sales of previously-owned homes edged up 1.3% in April to a seasonally adjusted annual rate of 4.65 million units, reversing four straight monthly declines. Sales were still 6.8% below their levels of a year earlier.

via Why Housing Isn’t As Cheap as It Looks – Real Time Economics – WSJ.

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