Consumer confidence and housing prices surge

05/28/2013 | Bloomberg

Housing prices and consumer confidence are at levels not seen in years, with the property market fueling the economy. The Conference Board's sentiment index is at a surprising 76.2 this month, while the Standard & Poor's/Case-Shiller index of property value in 20 cities increased 10.9% in the year through March. "Housing continues to look very solid in a broad-based manner," said Michael Feroli, chief U.S. economist at JPMorgan Chase. "We're continuing to expand."

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