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In this April 28, 2017 file photo, Attorney General Jeff Sessions speaks in Central Islip, New York. (Photo: AP)

In this April 28, 2017 file photo, Attorney General Jeff Sessions speaks in Central Islip, New York. (Photo: AP)

The Department of Justice has settled with Tea Party groups improperly targeted by the Internal Revenue Service (IRS) “based on their names or ideological positions.” Attorney General Jeff Sessions said the Obama Administration “significantly delayed” the tax-exempt status of 429 plaintiffs in two cases by the IRS based on inappropriate criteria.”

“The IRS’s use of these criteria as a basis for heightened scrutiny was wrong and should never have occurred,” Attorney General Sessions said. “It is improper for the IRS to single out groups for different treatment based on their names or ideological positions.”

He said the IRS transferred hundreds of applications to a specifically designated group of IRS agents for additional levels of scrutiny, questioning and delays as a result of illegal criteria. In an unknown significant number of cases, the IRS requested highly sensitive information from applicants, such as donor information, that was not needed to make a determination of tax-exempt status.

“There is no excuse for this conduct. Hundreds of organizations were affected by these actions, and they deserve an apology from the IRS,” Attorney General Sessions added. “We hope that today’s settlement makes clear that this abuse of power will not be tolerated.”

The IRS scandal first broke in 2013, when the IRS admitted it targeted conservative groups applying for nonprofit status. Lois Lerner, then head of the unit responsible, became the public face of the scandal and was fired, even though other IRS officials were involved.

Then-House Oversight Committee Chairman Jason Chaffetz, R-Utah, and 18 other committee members introduced an impeachment resolution against IRS Commissioner John Koskinen for lying to Congress, failing to to comply with a subpoena resulting in destruction of key evidence and failing to notify Congress that key evidence was missing.

But he cut a deal to avoid the impeachment vote.

When the scandal first broke, Barack Obama said their was “not even a smigden of corruption” involved and then-Attorney General Eric Holder appointed Barbara Kay Bosserman, a trial attorney to lead the investigation.

A few month later, it was revealed she was a long-term donor of both the Democratic National Committee (DNC) and Mr. Obama.

Campaign finance records showed Bosserman contributed at least $6,750.00 going back to 2004 and donated sometimes twice a month, rotating between Obama’s campaign and the DNC. One donation was for $1,000.00 to the super PAC Obama for America.

The Department of Justice (DOJ) settled with

President Donald J. Trump places his hand over his heart as Luis, a Cuban-American dissident, plays the Star Bangled Banner during the President's announcement of his new policy on Cuba in Miami, Florida on June 16, 2017. (Photo: People's Pundit Daily)

President Donald J. Trump places his hand over his heart as Luis, a Cuban-American dissident, plays the Star Bangled Banner during the President’s announcement of his new policy on Cuba in Miami, Florida on June 16, 2017. (Photo: People’s Pundit Daily)

The United Nations (UN) has proposed a set of “sustainable development goals.” Most of them seem unobjectionable. After all, presumably everyone wants things such as less poverty, a cleaner environment, better education, and more growth, right?

That being said, I’m instinctively skeptical about the goal of “climate action” because of the U.N.’s past support for statist policies in that area.

And I also wonder why the bureaucrats picked “reduced inequalities” when “upward mobility for the poor” is a much better goal.

While I am tempted to nit-pick about some of the other goals as well, I’m actually more worried about how the U.N. thinks the goals should be achieved.

I participated in a U.N. conference in early April and almost every bureaucrat and government representative asserted that higher tax burdens were necessary to achieve the goals. It truly was a triumph of ideology over evidence.

And some of the cheerleaders for this initiative have a very extreme view on these issues. Consider a new report, issued by Germany’s Bertelsmann Stiftung and the U.N.’s Sustainable Development Solutions Network, that ranks nations based on how successful they are at achieving the sustainable development goals. Jeffrey Sachs was the lead author, so perhaps we shouldn’t be too surprised to discover that there are some very odd results.

Bernie Sanders will be naively happy since the Nordic nations dominate the top of the rankings. The United States is #42, by contrast, sandwiched between Argentina and Armenia. Moreover, the United States is behind countries such as Hungary, Belarus, Portugal, Moldova, Greece, and Ukraine, which seems strange because Americans enjoy significantly higher levels of consumption – even when compared to other rich jurisdictions.

But the most absurd feature – at least for anyone with the slightest familiarity with international economic data – is that Cuba (circled in green) is ranked considerably above the United States (circled in red).

This is a jaw-droppingly stupid assertion. Cuba is a staggeringly impoverished nation thanks to an oppressive communist dictatorship.

So how can Sachs and his colleagues produce a report putting that country well above a rich nation like the United States?

Let’s look at some of the data. Here’s the summary of Cuba from the report. Pay particular attention to the circle on the right. If the blue bars extend to the outer edge, that means the country supposedly is doing a very good job achieving a goal, whereas a small blue bar indicates poor performance.

And here is the same information for the United States.

It appears that Cuba does much better for poverty (#1), responsible consumption (#12), climate action (#13), life on land (#15), and partnership (#17), while the United States while the United State does much better for industry, innovation, and infrastructure (#9).

But here’s an easier and more precise way of comparing the two nations. All you need to know is that green is the best, yellow is second best, followed by burnt orange, and red is the worst.

Cuba wins in nine categories and the United States is ranked higher in three categories.

Now here’s why most of these rankings are total nonsense. If you go to page 51 of the report, you’ll see the actual variables that are used to produce the scores for the 17 U.N. goals.

And what do you find? Well, here are some things that caught my eye.

  • For the first goal of “no poverty,” the report includes a measure of income distribution rather than poverty. This is same dodgy approach that’s been used by the Obama Administration and the OECD, and because almost everyone is Cuba is equally poor, that means it scores much higher than the United States, where everyone is richer, but with varying degrees of wealth. I’m not joking.
  • For the second goal of “zero hunger,” I can’t figure out how they concocted a higher score for Cuba. After all, there’s pervasive food rationing in that hellhole of an island. My best guess is that the United States gets downgraded because the category includes an obesity variable. Having a lot of overweight people may not be a good feature of America, but is it rude for me to point out that a large number of heavy people is the opposite of hunger?
  • Jumping ahead to the fifth goal of “gender equality,” I assume the United States gets a bad score because of the variable for the gender wage gap, even though women in America earn far higher incomes than their unfortunate and impoverished counterparts in Cuba.
  • Regarding the eighth goal of “decent work and economic growth,” it’s not clear how Sachs and his colleagues gave Cuba the best possible score. But I know the final result is preposterous given that the Cuban people are suffering from crippling material deprivation.
  • For the twelfth (“responsible consumption and production”) and thirteenth (“climate action”) goals, it appears that the United States gets a lower score because rich nations consume more energy than poor nations. If this is why Cuba beats the USA (just as they “scored higher” in the so-called Happy Planet Index), then I’m glad America loses that contest.
  • Last but not least, I can’t resist commenting on Cuba getting the best score and the U.S. getting worst score for “partnerships,” which is the seventeenth goal. If you read the fine print, it turns out that nations get better grades if their tax burdens are higher. And countries like the United States get downgraded because they are tax havens and/or they respect financial privacy.

The main takeaway is that Sachs and his colleagues produced a shoddy report based on statist ideology and – in many cases – on dodgy methodology.

Anyone who ranks Cuba above the United States when trying to measure quality of life should be treated like a laughingstock.

The report also ranks the ultra-rich and very successful nation of Singapore at #61, below poor countries such as Uzbekistan and Mexico. Are these people smoking crack? That’s even more absurd than the OECD’s report on Asian taxes, which basically pretended Singapore didn’t exist.

Heck the report also has dysfunctional Venezuela ahead of Panama, even though tens of thousands of Venezuelans have fled to Panama to escape their poorly governed nation. But I guess real-world evidence doesn’t matter to people trying to promote statism.

The United Nations (UN) has proposed a

A Wal-Mart Stores Inc employee works in one of the company's distribution centers in Bentonville, Arkansas. (Photo: Reuters)

A Wal-Mart Stores Inc employee works in one of the company’s distribution centers in Bentonville, Arkansas. (Photo: Reuters)

The Kansas City Federal Reserve Bank said their gauge of manufacturing activity in the Tenth District came in at 23 in October, stronger than the 17 median forecast. The headline composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes.

Expectations about future activity improved even further from already strong readings in September and August, while current factory activity increased strongly at both durable and non-durable goods plants. Food, plastics, computer and electronic products showed the strongest gains.

“Factory activity accelerated further in our region this month, posting its highest composite reading since 2011,” said Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City.

New orders lead the way in the report at 27 followed by an extraordinary 16-point increase in backlog orders to 23.

The future composite index increased from 26 to 32, while the future raw materials inventory index ticked up from 19 to 22. Future finished goods inventory index increased moderately.

Even though the year-over-year finished goods price index slid slightly from 38 to 33, the year-over-year raw materials price index increased to its highest since May 2014. The future finished goods price index rose from 29 to 32, and the future raw materials price index increased to 43.

The Kansas City Federal Reserve Bank said

Dr. Sebastian Gorka, right, talks with then-Homeland Security Secretary John F. Kelly, left-center, before a meeting with President Donald Trump. Dr. Gorka tweeted out a Uranium Birthday Cake for Hillary Clinton, left. (Photo: AP)

Dr. Sebastian Gorka, right, talks with then-Homeland Security Secretary John F. Kelly, left-center, before a meeting with President Donald Trump. Dr. Gorka tweeted out a Uranium Birthday Cake for Hillary Clinton, left. (Photo: AP)

Dr. Sebastian Gorka, former advisor to President Donald Trump, tweeted out a Uranium birthday cake for Hillary Clinton’s special day. The cake is a reference to the controversial deal approving the transfer of 20% of U.S. uranium resources to Russia in what appears to be a quid pro quo resulting in millions of dollars to the Clinton Foundation.

John Solomon published a bombshell report revealing the FBI uncovered a massive bribery, corruption and racketeering scheme before the Obama Administration approved the deal. The Committee on Foreign Investment in the United States, which approved the deal, was led by Hillary Clinton during her tenure as the secretary of state.

Further, a Russian bank pushing the Uranium One deal paid former President Bill Clinton roughly $500,000 in 2010 for a speaking fee, while all of the board members from Rosatom donated to the Clinton Foundation, bringing the total upwards of $100 million.

FBI documents show Vadim Mikerin, the director of Rosatom’s Tenex in Moscow, was engaged in illegal activity as early as the fall of 2009. Mr. Clinton requested permission from his wife’s State Department to meet with Mikerin while in Moscow. At the time, the FBI had gathered substantial evidence against him and the Russian plot to corner the global uranium market.

Yet, the Obama Administration still allowed him to enter the country with a L1 temporary work visa in December 2011.

The Justice Department (DOJ) late Wednesday cleared a confidential informant for the Federal Bureau of Investigation (FBI) to testify before Congress on Uranium One. Senator Chuck Grassley, R-Iowa, Chairman of the Senate Judiciary Committee, is calling for a special counsel to investigate the controversial Obama-Clinton era deal.

Dr. Sebastian Gorka, former advisor to President

A single family home is shown with a sale pending in Encinitas, California May 22, 2013. (Photo: Reuters)

A single family home is shown with a sale pending in Encinitas, California May 22, 2013. (Photo: Reuters)

The National Association of Realtors (NAR) said the Pending Home Sales Index (PHSI) was flat in September, unchanged at 106.0 and below the median forecast. The index is now at its lowest reading since January 2015 (104.7), is 3.5 percent below a year ago, and has fallen on an annual basis in five of the past six months.

“Demand exceeds supply in most markets, which is keeping price growth high and essentially eliminating any savings buyers would realize from the decline in mortgage rates from earlier this year,” he said. “While most of the country, except for the South, did see minor gains in contract signings last month, activity is falling further behind last year’s pace because new listings aren’t keeping up with what’s being sold.”

The report stands in stark contrast to government data, which showed home sales booming 18.9% to a 28-year high. The South was barely impacted by hurricanes according to the U.S. Census Bureau, but the housing lobby report says otherwise.

“Hurricane Irma’s direct hit on Florida weighed on activity in the South, but similar to how Houston has rebounded after Hurricane Harvey, Florida’s strong job and population growth should guide sales back to their pre-storm pace fairly quickly.”

Last month, first-time buyers were 29% of all pending home sales, which matched the lowest share in exactly 2 years. Existing sales were down notably on an annual basis in the price range below $250,000, but up solidly the higher up the price bracket.

“Buyers looking for a little relief from the stiff competition from over the summer may unfortunately be out of luck in the coming months,” said Yun. “Inventory starts to decline heading into the winter, and many would-be buyers from earlier in the year are still on the hunt to find a home.”

The PHSI in the Northeast rose 1.2% to 94.5 in September, but is still 2.4% below a year ago. In the Midwest the index climbed 1.4% to 102.9 in September, but remains 2.5% lower than September 2016.

Pending home sales in the South decreased 2.3% to an index of 115.9 in September and are now 5.0% below last September. The index in the West grew 1.9% in September to 102.7, but is 2.9% below a year ago.

The National Association of Realtors (NAR) said the

Jobless claims, an application for first-time unemployment benefits. (Photo: Reuters)

Jobless claims, an application for first-time unemployment benefits. (Photo: Reuters)

The Labor Department said jobless claims came in at a seasonally adjusted 233,000, roughly 2,000 less than the median forecast and still at historically low levels. While it’s an increase of 10,000 from the previous week’s revised level, claims fell last week to the lowest level since March 31, 1973.

The 4-week moving average was 239,500, a decrease of 9,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 248,250 to 248,500.

Worth noting, claims taking procedures were severely disrupted in Puerto Rico and the Virgin Islands as a result of power outages and infrastructure damage caused by Hurricanes Irma and Maria. It’s an indication that the labor market is fundamentally stronger than even the data indicated.

Continuing claims, which lag by a week, fell 16,000 for the week ending October 14 to a new multi-decade low at 1,893,000. The unemployment rate for insured workers stayed at a very low 1.3%, the lowest level since December 29, 1973.

No state was triggered “on” theExtended Benefits program during the week ending October 7.

The highest insured unemployment rates in the week ending October 7 were in Alaska (2.4), New Jersey (2.0), Connecticut (1.8), Puerto Rico (1.8), California (1.7), Pennsylvania (1.6), the District of Columbia (1.5), Illinois (1.5), Massachusetts (1.5), and Nevada (1.5).

The largest increases in initial claims for the week ending October 14 were in Puerto Rico (+1,708), Kentucky (+476), Tennessee (+118), Vermont (+71), and Wyoming (+29), while the largest decreases were in Florida (-2,547), Michigan (-2,271), Georgia (-1,919), Texas (-1,791), and Illinois (-1,751).

The Labor Department said jobless claims came

Former U.S. Secretary of State Hillary Clinton signs copies of her new book 'What Happened' at a book signing in Barnes and Noble bookstore on September 12, 2017 in New York City, NY, USA. (Photo: AP)

Former U.S. Secretary of State Hillary Clinton signs copies of her new book ‘What Happened’ at a book signing in Barnes and Noble bookstore on September 12, 2017 in New York City, NY, USA. (Photo: AP)

The nonprofit Campaign Legal Center (CLC) filed a complaint with the Federal Election Commission (FEC) alleging the Clinton campaign and the Democratic National Committee (DNC) violated campaign finance law by failing to accurately disclose payments for the discredited Trump dossier.

The Washington Post published a bombshell report Tuesday making what many suspected official: Clinton campaign and other top Democratic officials have been lying for months. They paid for the opposition research resulting in the discredited dossier meant to tie President Donald Trump to Russia.

“By filing misleading reports, the DNC and Clinton campaign undermined the vital public information role of campaign disclosures,” said Adav Noti, senior director, trial litigation and strategy at CLC, who previously served as the FEC’s Associate General Counsel for Policy. “Voters need campaign disclosure laws to be enforced so they can hold candidates accountable for how they raise and spend money. The FEC must investigate this apparent violation and take appropriate action.”

The group said they effectively hid these payments from public scrutiny, against federal law.

The report–which only now came as a judge was set to rule on a request to make the information public–also noted that the Clinton campaign and the DNC funded Fusion GPS for the material through the end of October 2016, only days before Election Day.

“Questions about who paid for this dossier are the subject of intense public interest, and this is precisely the information that FEC reports are supposed to provide,” said Brendan Fischer, director, federal and FEC reform at CLC. “Payments by a campaign or party committee to an opposition research firm are legal, as long as those payments are accurately disclosed. But describing payments for opposition research as ‘legal services’ is entirely misleading and subverts the reporting requirements.”

Fusion GPS founder Glenn Simpson refused to answer questions during a closed-door interviews with members of congressional committees. The document was originally opposition research for unknown political rivals, widely believed to be initially funded by donors connected to Jeb Bush.

Mr. Simpson, a former journalist at The Wall Street Journal, hired Christopher Steele, a former MI-6 British Intelligence Officer. Mr. Steele almost exclusively used sources linked to the Kremlin and Russian President Vladimir Putin, which Democrats widely circulated knowing it contained discredited information.

He also previously gave a 10-hour interview to the Senate Judiciary Committee. As People’s Pundit Daily (PPD) reported, Mr. Simpson again refused to answer lawmakers’ questions.

Marc E. Elias of Perkins Coie, a lawyer representing the Clinton campaign and the DNC, retained Fusion GPS in April 2016. When the Republican donor stopped paying for the research, Mr. Elias, acting on behalf of the Clinton campaign and the DNC paid for the unproven smear to continue.

A complaint has been filed against the

Hillary Clinton and Bill Clinton, left, attend a meeting with President Donald J. Trump on Inauguration Day. FBI graphic, right. (Photo: AP)

Hillary Clinton and Bill Clinton, left, attend a meeting with President Donald J. Trump on Inauguration Day. FBI graphic, right. (Photo: AP)

The Justice Department (DOJ) late Wednesday cleared a confidential informant for the Federal Bureau of Investigation (FBI) to testify before Congress on Uranium One. The decision lifts an unprecedented non-disclosure agreement, allowing him to testify about what he witnessed undercover surrounding Russia’s efforts to corner the global uranium market.

John Solomon published a bombshell report revealing the FBI uncovered a massive bribery, corruption and racketeering scheme before the Obama Administration approved a nuclear deal that would put 20% of U.S. uranium resources under the control of Moscow. The Committee on Foreign Investment in the United States, which approved the deal, was led by Hillary Clinton during her tenure as the secretary of state.

Justice Department spokeswoman Sarah Isgur Flores confirmed a deal had been reached clearing the informant to testify before Congress roughly 8 years after he first went undercover for the FBI.

“As of tonight, the Department of Justice has authorized the informant to disclose to the Chairmen and Ranking Members of the Senate Committee on the Judiciary, the House Committee on Oversight and Government Reform, and the House Permanent Select Committee on Intelligence, as well as one member of each of their staffs, any information or documents he has concerning alleged corruption or bribery involving transactions in the uranium market, including but not limited to anything related to Vadim Mikerin, Rosatom, Tenex, Uranium One, or the Clinton Foundation,” Ms. Flores said.

Senator Chuck Grassley, R-Iowa, Chairman of the Senate Judiciary Committee, is calling for a special counsel to investigate the controversial Obama-Clinton era deal. While his committee has launched a probe as well, only the powers granted to a federal prosecutor can get to the bottom of what appears to be a clear cut Clinton quid pro quo.

“Whoever in DOJ is capable w authority to appoint a special counsel shld do so to investigate Uranium One ‘whoever’ means if u aren’t recused,” Chairman Grassley tweeted.

A Russian bank pushing the Uranium One deal paid former President Bill Clinton roughly $500,000 in 2010 for a speaking fee, while all of the board members from Rosatom donated to the Clinton Foundation, bringing the total upwards of $100 million.

The FBI documents show Vadim Mikerin, the director of Rosatom’s Tenex in Moscow, was engaged in illegal activity as early as the fall of 2009.

“As part of the scheme, Mikerin, with the consent of higher level officials at TENEX and Rosatom (both Russian state-owned entities) would offer no-bid contracts to US businesses in exchange for kickbacks in the form of money payments made to some offshore banks accounts,” Agent David Gadren testified. “Mikerin apparently then shared the proceeds with other co-conspirators associated with TENEX in Russia and elsewhere.”

However, the Obama Administration still allowed him to enter the country with a L1 temporary work visa in December 2011.

At the time, the FBI had gathered substantial evidence against him and the Russian plot to corner the global uranium market. Worth noting, the Uranium One deal did not permit the exporting of the material out of the U.S., but unknown quantities have been exported to unknown nations and parties.

The Justice Department (DOJ) has cleared a

Sen. Dianne Feinstein, D-Calif., whispers something into the ear of her colleague Sen. Chuck Grassley, R-Ia., during a Senate hearing. (Photo: AP)

Sen. Dianne Feinstein, D-Calif., whispers something into the ear of her colleague Sen. Chuck Grassley, R-Ia., during a Senate hearing. (Photo: AP)

Senator Chuck Grassley, R-Iowa, Chairman of the Senate Judiciary Committee, is calling for a special counsel to investigate the Obama-Clinton era Uranium One deal.

“Whoever in DOJ is capable w authority to appoint a special counsel shld do so to investigate Uranium One ‘whoever’ means if u aren’t recused,” Chairman Grassley tweeted.

The call comes amid new revelations about the deal that have led to no less than two congressional investigations.

John Solomon published a bombshell report revealing the Federal Bureau of Investigation (FBI) uncovered a massive bribery, corruption and racketeering scheme by Russia. Documents showed Russian nuclear industry officials were engaged in bribery, kickbacks, extortion and money laundering before the Obama Administration approved a nuclear deal that would put 20% of the U.S. uranium under the control of Moscow.

Then-U.S. Attorney Rod Rosenstein oversaw the investigation, which began when Robert Mueller was still head of the FBI. Attorney General Jeff Sessions recused himself from any investigation into the Clintons, leaving no credible figure to conduct an independent investigation.

Documents also revealed the FBI had obtained an eyewitness account indicating Russian nuclear officials had routed millions of dollars to the U.S. to the benefit of the Clinton Foundation while Hillary Clinton served as secretary of state. Further, a Russian bank pushing the Uranium One deal paid former President Bill Clinton roughly $500,000 in 2010 for a speaking fee.

Then-Attorney General Eric Holder, who also sat on the Committee on Foreign Investment in the United States at the time the Uranium One deal was approved, put a gag order on the witness preventing him from speaking to the U.S. Congress. Loretta Lynch, who took over the Justice Department after Mr. Holder, threatened the witness who wanted to tell their story in 2016.

“This cries out for a special counsel,” the informant’s attorney Victoria Toensing said on Fox News’ “Hannity” Tuesday night. “Congressional committees are fine, but this is a criminal investigation and Jeff Sessions isn’t ever going to feel comfortable appointing that, and Rod Rosenstein is recused because he was the U.S. attorney.”

Just as he prepared to collect in Moscow, Mr. Clinton sought clearance from the State Department during his wife’s tenure to meet with a key board director of the Russian nuclear energy firm Rosatom. Arkady Dvorkovich, a top aide to then-Russian President Dmitri Medvedev and one of the highest-ranking government officials to serve on Rosatom’s board of supervisors, was listed on a May 14, 2010, email as one of 15 Russians the former president wanted to meet during his trip in late June of 2010.

All of the board members from Rosatom donated to the Clinton Foundation, totaling tens of millions of dollars. The deal was approved with then-Secretary Clinton at the helm.

The FBI documents show Vadim Mikerin, the director of Rosatom’s Tenex in Moscow, was engaged in illegal activity as early as the fall of 2009.

“As part of the scheme, Mikerin, with the consent of higher level officials at TENEX and Rosatom (both Russian state-owned entities) would offer no-bid contracts to US businesses in exchange for kickbacks in the form of money payments made to some offshore banks accounts,” Agent David Gadren testified. “Mikerin apparently then shared the proceeds with other co-conspirators associated with TENEX in Russia and elsewhere.”

However, the Obama Administration still allowed him to enter the country with a L1 temporary work visa in December 2011.

At the time, the FBI had gathered substantial evidence against him and the Russian plot to corner the global uranium market. Worth noting, the Uranium One deal did not permit the exporting of the material out of the U.S., but unknown quantities have been exported to unknown nations and parties.

[caption id="attachment_53725" align="aligncenter" width="1200"] Sen. Dianne Feinstein,

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

The U.S. Census Bureau said Wednesday new home sales skyrocketed 18.9% to a seasonally adjusted annual rate of 667,000 in September, the largest gain in 28 years. It’s 17.0% (±22.4%)* higher than the September 2016 estimate of 570,000.

Worth noting, new home sales in the South for the month of September surged 26% to a seasonally adjusted annual rate of 405,000. Sales in the three other regions also rose, led by a 33% gain in the Northeast to a seasonally adjusted annual rate of 48,000 and an 11% gain in the Midwest to a seasonally adjusted annual rate of 73,000. Sales in the West rose 2.9% to 141,000.

The median sales price of new houses sold in September 2017 was $319,700, while the average sales price was $385,200.

The seasonally-adjusted estimate of new houses for sale at the end of September was 279,000, representing a supply of 5.0 months at the current sales rate.

The U.S. Census Bureau said new home

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