Fannie Mae economists are optimistic in a report out today that the economy is poised for growth again after stalling out in the first three months of the year, but housing "remains the weakest link" and "there is a lot of concern over the near-term health of the housing sector." Fannie Mae Chief Economist Doug Duncan thinks that improving financial and labor market conditions should contribute to a rebound, with economic growth in April, May and June accelerating to an annual rate of 3 percent. The outlook for housing "remains more worrisome, with existing-home sales, new-home sales, housing starts and multifamily housing all experiencing year-over-year declines despite improving consumer attitudes," Duncan said in a statement. "However, we anticipate a modest uptick in housing acti...
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