NEW YORK–Just one day after NAFCU published analysis indicating the housing sector remains weaker than many analysts had expected, the Dow Jones Industrial Average dropped 284 points Thursday, with analysts citing concerns about the housing markets and related financing markets as the primary reason. Wall Street also is expressing concern that lenders will tighten credit further, according to analysts. The Commerce Department reported new home sales were down 6.6% in June, and several home builders, including D.R. Horton and Pulte Homes, reported losses.
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