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New home sales rose in May to the Adidas Gazelle Off White Silver Metallic
year for the first time since 2005.
Many economists believe that housing construction could contribute to overall economic growth this Adidas Gazelle Og Leather Red
They reported higher turnouts by prospective buyers. region, led by the West. "This was a good report," said Martin Schwerdtfeger, an economist at TD Bank. He said the growth in construction permits "suggests that the momentum in building activity observed in recent months should carry forward. "The housing market is showing gains even while the rest of the economy has weakened. Federal Reserve Chairman Ben Bernanke highlighted the improvement in an otherwise gloomy report to Congress on this week. Mens Adidas Gazelle Trainers
fastest pace in more than two years. And while sales of previously occupied homes dipped in May, they were nearly 10 percent higher than a year earlier. Many people still have difficulty qualifying for home loans or can't afford larger down payments required by banks. That's holding back home sales. Though new homes represent just 20 percent of the overall home market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to data from the home builders association. home construction rebounded in July, rising to an eight month high and offering hope that housing has regained momentum after two mon.
would add Adidas Gazelle Boost roughly 0. 5 percentage point to annual economic growth, according to calculations by Joel Prakken, chairman of Macroeconomic Advisers. It would also lower the unemployment rate by about 1. 5 percentage points and create 50,000 additional jobs a month, half of which would be construction workers and contractors, Prakken estimates. As demand from home buyers has risen, so has builders' confidence. The National Association of Home Builders/Wells Fargo builder sentiment index this month reached its highest level since March 2007. The index is based on responses from 318 builders. The builders' outlook for sales in the next six months also brightened.
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