Housing shows signs of life

(01:08) Report

Aug. 26 - A rebound in July new homes sales offers hope that the worst is over, but steep price declines suggested the bottom may still be coming.

  • Consumer confidence showed a sharp rebound in August.
  • U.S. oil prices jumped with Hurricane Gustav predicted to hit the U.S. Gulf Coast on the weekend.

    Conway Gittens reports from New York

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