Durable goods rise last month by largest amount in two years
WASHINGTON - Orders for durable goods rose last month by the largest amount in two years, as the manufacturing sector rebounded from the depths of the recession.
The Commerce Department said Wednesday that orders for goods expected to last at least three years increased 4.9 percent in July, the third rise in the past four months. Analysts expected a 3 percent increase. Orders for June were revised up to a 1.3 percent drop, from a 2.2 percent decline.
More good news came on the housing front. New U.S. home sales jumped 9.6 percent in July, a fourth straight monthly gain that beat analysts’ expectations.
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5 comments:
The builders are dumping them to survive.
sounds like prices are back down to the real value of the property. Bad investments by builders/investors= good deals for home shoppers. And if you were crazy enough to pay 400,000 for that 1980's rancher overlooking Church st., you deserve what you get.
The question is WHO IS BUYING THEM? The housing crisis may actually be a plan to turn ownership over to foreign interests.
OMG you people should go ahead and jump off the bridge already. Save us the doom and gloom. The glass is never half full...always half empty.
Oh, ANON 1:22, it must be foreign interests. It couldn't be my co-worker and her husband who'd save for 5 years to buy a home- no, it couldn't be anyone like them. Yes, it must be "foreign interests" who are so interested in a two-bedroom home in Mardela.
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