|Housing turnaround becomes tailwind for weak economy|
Justin Hilley writes at the Housing Wire July 25:
The housing market is converting into a tailwind for the broader economy as construction activity gains momentums at a double-digit pace and home prices are finally rising after a prolonged downturn, says Joseph LaVorgna, housing analyst at Deutsche Bank ($27.38 -0.791%).
LaVorgna makes this claim despite the recent hiccup in house prices. New home sales declined 8.4% to 350,000 units in June, down from a revised rate of 382,000 the previous month, according to a new report from the U.S. Census Bureau and the Department of Housing and Urban Development.
Read more here.
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