• US housing roars back despite recession, high unemployment

    27 days ago - By Chron

    LOS ANGELES - The U.S. housing market has staged a furious comeback this summer, even as the economy struggles to regain its footing after being knocked into a recession due to the coronavirus.
    After stalling in the first few weeks of the pandemic, U.S. home sales have surged in recent months to the highest level in more than a decade.
    The strength in housing has been driven by ultra-low mortgage rates, fierce competition for a chronically low inventory of properties on the market and a wave of millennials and others increasingly vying to become homeowners.
    At the same time, the uneven...
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