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Mish-modified translation from Libre Mercado … Renting an apartment in Venezuela is impossible mission. Supply is tight and prices exorbitant, quite inaccessible to the vast majority of the population thanks to the 2011 Law Against Eviction and Arbitrary Unemployment.
First Quarter GDP -0.7%; GDPNow Second Quarter Forecast +0.8%; Economists Get Zero Accolades; Smoothed Recession Odds First quarter GDP came in at -0.7% pretty much in line with the Bloomberg Consensus estimate of -0.8%. First-quarter GDP was revised down about as expected, to minus 0.7 percent vs expectations for minus 0.8 and compared with an initial reading of plus 0.2 percent. Updated source data made for a bigger negative contribution from net exports as imports spiked 5.6 percent from an initial gain of 1.8 percent.
Read More: Livestream of Rand Paul "Unleashing the American Dream" 12:45 PM Central
Those living in or near Chicago have the opportunity to hear Senator Rand Paul in a discussion about how to transform Chicago, the state of Illinois and the U.S.
Economists overestimated existing home sales today, rounding out another impressive day of overoptimism. New home sales came in at a seasonally adjusted 5.04 million annualized rate
More: Another Perspective on Today’s Strong Housing Numbers
Home Builders Optimistic Despite Decline in Traffic; Housing Market Index Declines The National Association of Home Builders’ Housing Market Index once again reveals positive builder sentiment even though new home sales are weak. The HMI is Derived from a monthly survey that NAHB has been conducting for 30 years
Read More: Producer Prices, Import/Export Prices Decline Again; Still Think the Fed Will Hike?
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