U.S. existing home sales post largest decline in nearly 10 years

FILE PHOTO: Construction workers build a single family home in San Diego, California, U.S. February 15, 2017. Picture taken February 15, 2017. REUTERS/Mike Blake

Economists polled by Reuters had forecast existing home would decrease 18.9% to a rate of 4.30 million units in April. The report came on the heels of data on Tuesday showing a record collapse in homebuilding and permits in April. The worst of the housing market slump is likely behind as the country reopens after a near total shutdown since mid-March to slow the spread of COVID-19, the respiratory illness caused by the coronavirus.

Like 2008 the financial meltdown ?

It was coming and gonna get worst

No big ticket item until all the uncertainty is resolved about the workforce and this virus.

Hmm. What’s it going to be like in 6 months?

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