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NEW YORK (Reuters) - U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending.
There is a housing bubble forming in places like Sparks, NV, and in Phoenix and I am sure many other places. This bubble is caused by banks lending money out to the wealthy and hedge funds. I have written about this before. The 1 percent are still buying up all the real estate. QE3 is an effort to assist these buyers, and assist the banks who lend to them. QE3 is an attempt to blow another bubble in real estate, so that the TBTF banks can be more secure in trusting other banks. QE adds to the reserves of banks, and that makes them more willing to lend. Read more: www.businessinsider.com...