
Mark Zandi, chief economist at Moody's Economy.com, talks with Bloomberg's Kathleen Hays from New York about the U.S. economy, existing home sales data released today and the outlook for housing prices. Sales of previously owned homes in the U.S. rose 3.1 percent in July from a 10-year low, while the gain wasn't enough to reduce the supply of properties on the market. (Source: Bloomberg)
