House Speaker Paul Ryan laid out goals for what he called a "once in a generation” chance to reshape the tax code. Speaking to the National Association of Manufacturers conference, those goals include: Make tax cuts permanent. Lower tax rates for individuals and businesses and end many special-interest exemptions. Reduce tax rates for corporations to stop U.S. companies from leaving and to encourage foreign companies to come to America, and eliminate the inheritance and alternative minimum taxes.
Existing-home sales ran at a seasonally adjusted annual 5.62 million rate, according to the National Association of Realtors. That was up 1.1% from the downwardly revised April pace, and beat economists’ expectations for a 5.51 million pace. Sales are 2.7% higher than a year ago, and were the third-fastest pace of the past year. That sent the median number of days a property spent on the market to a low of 27 days. There were 1.96 million homes for sale at the end of the month, 8.4% lower than in the same period a year ago. The median sales price wass $252,800, a new all-time high and 5.8% higher than a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
