Chinese plan $2 billion move into U.S. mortgage market
Flush with cash from a $585 billion stimulus plan that experts say is working well, China's $200 billion sovereign wealth fund is planning to make inroads into the U.S. mortgage market.
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but this morning headline reads:
Existing Home Sales Rise at Fastest Pace in Two Years
Reuters
| 21 Aug 2009 | 10:07 AM ET
Sales of previously owned U.S. homes in July notched their fastest pace in nearly two years, an industry survey showed Friday, the strongest sign yet that housing was pulling out of a three-year slump.
The National Association of Realtors said that sales jumped 7.2 percent to an annual rate of 5.24 million units, the highest since August 2007, beating market expectations for a 5 million unit pace.
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