Sales of existing homes plunge 8.4% in March —MarketWatch

This is an 18-year record, the fastest drop in existing home sales since January 1989, when a severe housing recession began. Officials of the Treasury Dept. and Federal Reserve assure that the housing slump is "well-contained." Kevin Depew takes a look at the well-contained effects on cement-producer Cemex, Spanish stocks and domestic auto sales. He also posts quotes from some very odd-looking experts.

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Tags: * real estate housing market real estate MarketWatch existing home sales slump recession Minyanville