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Valentine Smith
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Home sales should not be seen or looked at by itself. It should be seen as an indicator of what we cannot see. For example you can consider it as an indirect measure to the job market or the wages being offered in today's job market. We would not have seen this drop, if people were employed, or the wages they were offered, were high enough so they would be accepted by banks for a loan. It is a chain that could generate a positive chain reaction. Do not expect an unemployed or an underpaid to be able to afford to buy a house in today's market.
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Dec 10, 2013