This program is made possible by contributions to your pbs station from viewers like you. Captioning sponsored by wpbt susie good evening everyone. Sales of new homes fell to an alltime record low in july. Tom, youd have to look back to 1968 to see home sales this low. They plunged 12 last month. Tom and susie, todays news comes on top of yesterdays disappointing report of a big drop in existing home sales. Things are so gloomy that president obama took time out of his vacation to hold a Conference Call with his economic team, focusing on the deteriorating Housing Market. Susie home prices continue to fall as well. The median price of a new home last month was 204,000, almost 5 lower than a year ago, according to the commerce department. Now, prices on existing homes . About 183,000, slightly higher than last summer. Lower prices havent been enough to turn browsers into buyers, and economist dean baker says theres a reason why theyre waiting. People are acting reasonably, given that yo
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening everyone. sales of new homes fell to an all-time record low in july. tom, you d have to look back to 1968 to see home sales this low. they plunged 12% last month. tom: and susie, today s news comes on top of yesterday s disappointing report of a big drop in existing home sales. things are so gloomy that president obama took time out of his vacation to hold a conference call with his economic team, focusing on the deteriorating housing market. susie: home prices continue to fall as well. the median price of a new home last month was $204,000, almost 5% lower than a year ago, according to the commerce department. now, prices on existing homes? about $183,000, slightly higher than last summer. lower prices haven t been enough to turn browsers into buyers, and economist dean baker says there s a reason why they re waiting. people are a
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening everyone. sales of new homes fell to an all-time record low in july. tom, you d have to look back to 1968 to see home sales this low. they plunged 12% last month. tom: and susie, today s news comes on top of yesterday s disappointing report of a big drop in existing home sales. things are so gloomy that president obama took time out of his vacation to hold a conference call with his economic team, focusing on the deteriorating housing market. susie: home prices continue to fall as well. the median price of a new home last month was $204,000, almost 5% lower than a year ago, according to the commerce department. now, prices on existing homes? about $183,000, slightly higher than last summer. lower prices haven t been enough to turn browsers into buyers, and economist dean baker says there s a reason why they re waiting. people are a
that s going to come back and hit the economy and be a further drag on growth. tom: we look at the state of the housing market and get a lesson in mortgage refinancing. you re watching nightly business report for wednesday, august 25. this is nightly business report with susie gharib and tom hudson. nightly business report is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening everyone. sales of new homes fell to an all-time record low in july. tom, you d have to look back to 1968 to see home sales this low. they plunged 12% last month. tom: and susie, today s news comes on top of yesterday s disappointing report of a big drop in existing home sales. things are so gloomy that president obama took time out of his vacation to hold a conference call with his economic team, focusing on the deteriorating housing market. susie: home prices continue to fall as well.
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening everyone. sales of new homes fell to an all-time record low in july. tom, you d have to look back to 1968 to see home sales this low. they plunged 12% last month. tom: and susie, today s news comes on top of yesterday s disappointing report of a big drop in existing home sales. things are so gloomy that president obama took time out of his vacation to hold a conference call with his economic team, focusing on the deteriorating housing market. susie: home prices continue to fall as well. the median price of a new home last month was $204,000, almost 5% lower than a year ago, according to the commerce department. now, prices on existing homes? about $183,000, slightly higher than last summer. lower prices haven t been enough to turn browsers into buyers, and economist dean baker says there s a reason why they re waiting. people are a