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Weekly Financial Report About The Economy And Home Buying Or Home Selling
Weekly Finincial Report About The Economy And Home Buying Or Home Selling
Home Mortgage Interest Rates Holding Steady Around 4.5%
Home Prices Up Over May 2010
The Producer Price Index showed a rise in wholesale inflation with a 6.8% year-over-year inflation rate. While wholesale inflation doesn't always get passed on to the consumer, as evidenced by the relatively benign Consumer Price Index (CPI) inflation readings, at some point one of two things usually happens: 
Businesses that are burdened with increased costs must pass the increase to the consumer by raising prices, thus boosting consumer inflation. If businesses aren’t in a position to raise prices because of weak consumer demand, they must absorb the increased costs...thereby lowering earnings and the ability to expand, thus furthering the present slow economic growth. Home SOLD prices in the Woodbridge, Manassas, Lorton, and Mount Vernon in May 2011 are up 2%-3% over May 2010. New home sales in Woodbridge, Manassas, Lorton, and Mount Vernon have skyrocketed way up high over last year's sales thanks to lower land prices.   Builders buy their finished building lots from land developers who clear the land, lay the utilities, and pave the streets.   Land developers have cut prices for ... more

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