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Debate Over: Housing Turnaround a Fantasy

Stock quotes in this article: RYL , HOV , PHM , CTX  

Optimism in the housing market is futile.

After weeks of back and forth debates about whether or not the housing market had finally bottomed, today's disappointing new home sales data would seem to prove that a turnaround is far from imminent.

New home sales were flat in April at 352,000, missing economists' expectations of 360,000 units. ...

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