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Consumer confidence strong, but housing confidence weakens

from By Michael J. Berens

Although it has fluctuated somewhat in recent months, consumer confidence remains strong. Reports of continued economic and employment growth have helped sustain consumers' positive outlook about their current and near-term financial well-being. Consequently, consumer spending and borrowing are on the rise. Normally, that would translate into more consumers entering the housing market. At present, however, the trend is going the other way. more

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