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Let's check these trends in 2 to 3 months once the mortgage market disruption shows up in the numbers.

Today's pending home sales, for example, could send a red arrow or two south.

Rob Dawg

2nd derivative misrepresentation. Things are not getting better, they are just getting worse only slower. By using y-o-y you are comparing to Jul '06 which was already bad. Things are still lower than Jul '06 just not as much lower as Jul '06 was compared to Jul '05.

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