Rents for U.S. Homes Drop for First Time Since 2012; Existing Home Sales Drop For 7th Straight Month

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via Bloomberg:

Renters finally have reason to rejoice: their housing costs dropped last month for the first time in six years.

The median rent for apartments, single-family homes and other residences across the U.S. was $1,440 in September, down 0.2 percent from a year earlier and the first year-over-year decline since July 2012, according to listings website Zillow. Rents have jumped 14 percent since September 2011, or about 2.3 percent a year.

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Existing Home Sales Drop For 7th Straight Month

via Zerohedge:

As Homebuilders Stocks Collapse. This is the seventh month in a row of annual declines in existing home sales…

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