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Says 'there’s no question that the housing market has long lost momentum.'
Bank execs reject reports of plans to abandon the sector.
NAHB chief economist says Fed policy & high construction costs will cause first decline in housing starts since 2011.
Wells Fargo earnings down 48% YOY, BofA down 32.6%.
Confidence, sales and HMI points all plummeted during the month of July.
One lawsuit dismissed, another allowed to move forward on limited grounds
