U.S. housing market close to bottom: ITW - 2007-02-27
The U.S. housing market is close to the bottom, which would end a run of declines that has affected companies across that sector, the chief executive of diversified manufacturer Illinois Tool Works Inc. declared on Tuesday. For over a year, high prices and interest rates have dragged down new residential construction activity, with January housing starts 14.3 percent lower.
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Home prices fall most in 14 years - 2007-02-27
U.S. home prices dropped 0.7% in the fourth quarter, the fastest rate since 1992, and are just 0.4% higher in the past year, Standard & Poor's reported Tuesday in the inaugural release of the national Case-Shiller price index. A year ago, home prices were climbing 14.6% year-over-year.
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