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Slow as Molasses in July

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"Housing sales in July plunged to their lowest level in more than a decade, exceeding even the grimmest forecasts," reports the New York Times. Experts predicted a drop of 20 percent, but home sales dropped 27.2 percent from June (existing-home sales in the West fell 25 percent). But hey, some good news. Yesterday's Marketplace quoted an expert saying that the job market is actually recovering faster than from past recessions, despite the attention the media pays to monthly and weekly statistics. [NYT/Marketplace]