Auto sales, home prices buoy economy
WASHINGTON – The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes.
Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month. And the nation enjoyed another year-over-year surge in home prices in August – a sign that the housing industry is making a sustained comeback.
Both trends reflect rising confidence in the economy. They show that more families are replacing aging cars, more homeowners are deciding to sell and more would-be buyers are concluding that a home is a good investment.
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