"Sales fell almost twice as much as expected," he said, and what makes it "even more concerning is by far the biggest public support for the housing market is still in place."
New home sales plunge to hit a record low
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Mr. Bandholz said the renewed housing downturn, along with more sluggish growth in jobs and fallout from the European debt crisis, is forcing the Fed to become more "cautious" and put on hold earlier plans to withdraw further monetary stimulus from the economy.
New home sales plunge to hit a record low
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