Finally Some Good News on Housing
Fellow Masters for those of you that are homeowners we finally got some good news that our most expensive asset may be making a comeback.
(Bloomberg.com) Sales of previously owned U.S. homes rose in December to the highest level since January 2011, adding to evidence residential real estate was stabilizing heading into the new year.
Purchases (ETSLTOTL) increased for a third month, climbing 5 percent to a 4.61 million annual rate, the National Association of Realtors said today in Washington. The gain helped push the number of houses on the market to a six-year low.
Less-expensive properties, a pickup in employment and the lowest mortgage rates on record may give Americans the confidence to take on their biggest investment, buying a house. At the same time, the foreclosure crisis continues to threaten parts of the country, which will probably inhibit more broad- based gains in the industry that triggered the recession.
“It’s going to be a slow process, but we are finally starting to see signs that an adjustment is occurring in housing,” said Troy Davig, a senior U.S. economist at Barclays Capital Inc. in New York. “You’re going to have some markets where foreclosures were less of an issue and those markets are going to do quite well.” Continue..
Back to the house party...
Best of the Blogs
Scanning and identifying the best blog entries every hour
- An "Increasingly Worried" Chinese President Tells Trump To "Exercise Restraint" Over N.Korea | ZeroHedge
- You Got Trumped! Trump not yellin’ about Yellen anymore! | ZeroHedge
- 2017 Second-Quarter Forecast | Financial Sense
- Russia Ready To Send Ground Troops To Syria: FARS | ZeroHedge
- Does America Have A Technology Platform Monopoly Problem? | ZeroHedge
- Think Tank Reports ISIS Is Falling Apart: "May Actually Lead To More Terrorist Attacks Across The Globe" | ZeroHedge
- The Passive Indexing Trap | ZeroHedge
The most relevant financial news and articles from the Internets
- We're about to get a clear example proving the stock market is not the economy | Business Insider
- Amazon’s best-selling air purifier meets the same standards as those used in medical... | Business Insider
- Two ways 'Seinfeld' changed TV forever | Business Insider
- Apple Pay goes live with bill pay (AAPL) | Business Insider
- The most important lesson Larry David taught 'Seinfeld' writers | Business Insider
- Trump just blinked in the government-shutdown fight | Business Insider
- Here are the hundreds of storefronts that are sitting empty in New York City | Business Insider