http://www.nytimes.com/2013/01/25/business/signs-of-a-housing-recovery-point-to-a-stronger-economy.html?ref=business&_r=0
The article shows that the housing market may be on the uprise leading to one of the stronger economies that has been seen in recent history. Many of the homes that should have never been built and or were sold to people that were unfit to handle the payments that these home require, have been marked to a price that it is much easier to sell meaning that the market is rising. Although 12 percent of homes were former forclosed homes and an additional 12 percent of home that were sold in december that were short sold, meaning the value of the house was less than the mortgage on it. But last year also there was 780 thousand homes built which was the highest amount built in the past 4 years. The newest way that we need to keep an eye on is the creation of home building jobs again to create more stimulation into the economy and make the recovery come even quicker.
It's good to hear the housing market is finally on the rise again and that it can lead to positives in our economy. However, I feel we still have a long to go concerning our economy and due to the fact the housing market was at an all-time low in recent decades it really only allowed the housing market one way to go and that way was up. Having said this, I believe buyer and seller confidence will continue to rise and slowly help the market as a whole. Overall, while I like the positive signs the market is showing I believe we still have a long way to go before we can consider the housing market normal or stable again.
ReplyDeleteI agree with Ryan , its good to hear the housing market is recovering from the recent collapse and that the confidence with the buyers and sellers could be on rise again it would definitely help the US economy.
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