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Transcripts For KQED Nightly Business Report 20170524

Tyler mathisen. The one thing the Housing Market needs is housing. A lot more homes. But there arent enough existing properties to meet the demand for prospective homebuyers. You might expect sales of newly constructed homes to be strong. That wasnt the case in april. There was an 11. 5 decline in the sales of new family homes and the biggest decline in two years. Diana olick explains why. Reporter april was not particularly pretty for the nations homebuilders. Sales of their properties dropped dramatically during the month and were essentially flat compared to a year ago. The builders should be benefiting from the meager supply of existing homes for sale. But theres a problem price. The most Housing Demand is coming from those least able to afford it. Millennials may want to buy homes but the builders claim they cant afford to build for them. Regulatory issues put in by stat ....

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