In the past month, President Obama has said the housing market has “been most stubborn to us trying to solve the problem.” And last week Federal Reserve Chairman Ben S. Bernanke said the troubles facing home construction and sales were more persistent than previously thought.
The builders trade group said Monday that its survey of industry sentiment rose to 15 in June. Any reading below 50 indicates negative sentiment about the housing market. The index hasn’t reached 50 since April 2006, the peak of the housing boom.
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