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Housing Data Remain Soft
Sales of new single-family homes rose 3.5 percent in August and are up 12.7 percent from a year ago, however, they are down 11.7 percent from November 2017. Declining affordability suggests that sales are unlikely to move significantly higher in the coming months.
READ MOREWhat Do Economic Growth Figures Tell Us?
Economic growth as measured by gross domestic product directs policy makers toward imagining a lump sum of output instead of allowing the market to adapt to the diverse needs and wishes of individuals.
READ MOREThe Rise of Capitalism and the Dignity of Labor
Free market liberalism not only has brought about growing prosperity for more of humanity, but has cultivated a more polite and respectful society to accompany the material betterment of the human condition.
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