News Opinion

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Housing sales way down, with real estate recovery remains in financial crisis

Dave Masko's picture

NEWPORT, Ore. – Springtime home rentals and sales are in financial crisis here in Newport “like the rest of the country” as weary Americans ask what’s happening; meanwhile, the final report of the “National Commission on the Causes of the Financial and Economic Crisis in the United States” answers “it’s due to inflated housing values," while continued weak housing sales and rising foreclosures drive the cost of home prices to “their lowest level in nearly nine years,” states the National Association of Realtors.

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