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Countrywide: two more years of housing slump?
The housing market's caught in its worst slump in 16 years — sales of existing homes fell 3.8 percent in June, the fourth straight month of weakness. Yesterday, mortgage lender Countrywide said a recovery might not be in the cards until 2009. More Countrywide borrowers with good credit are falling behind on loans. That news triggered a sell-off in the stock market yesterday.
Posted on July 25, 2007 7:59 AM PT | Permalink
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Latest Comments
- The economy: Not at your service (1)
- Laura Beth wrote: SO WHAT. To me, it is GREAT that the economy is NOT growing.... [read]
- Hard to see a slowdown from a yacht... (1)
- Chuck wrote: Until our elected "leaders" stop taking bribes from the weal... [read]
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- dallas latham wrote: diabolical!!!!! ... [read]
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Marketplace Confessional
I've just listened to Mr. Stein's concern for the poor working man. No doubt he drove his Bronco to the station to make his plea for the common man. Honestly, Ben Stein weeping for the common man's fate? After my sides stopped hurting from laughing ...
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