A house is seen with a 'For Sale' sign on it in Pasadena, California. (Photo by David McNew/Getty Images)
New home sales plunged 8.1 percent in June, putting the decline at 4.9 percent for the first half of the year, and that's not good news for the economy. Home sales have suffered from buyers' lingering fear after last decade's housing bust, the sharp rise of home prices last year and the surge of student-loan debt, John Burns, CEO of John Burns Real Estate Consulting, told The Journal. "I just think there's a real lack of confidence to buy a home and take on a mortgage right now," he said. [Full Story]
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