Housing News: Weakness, Weakness

(From NakedCapitalism.com)
The latest housing news is not pretty. The decline, however, was only slightly below the expected annualized level of 4.94 million units. From Bloomberg:
Sales of previously owned U.S. homes fell in June to the lowest level in a decade, signaling tumbling real-estate prices and consumer confidence are hurting demand.
Resales dropped 2.6 percent to a [...]