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
- The Richest Man In Asia Is Selling Everything In China | ZeroHedge
- Lassonde: Gold Moving Sideways; Very Bullish on Natural Gas | Financial Sense
- FBI Plans To Have 52 Million Photos In Facial Recognition Database By 2015 | ZeroHedge
- Here’s Looking at 1840, Kid | iBankCoin.com
- GM Seeks Immunity From Lawsuits Due To Bankruptcy | ZeroHedge
- HFT Firm CEO Seeks Taxpayer Dollars To Save His Hockey Team | ZeroHedge
- REITs | iBankCoin.com
The most relevant financial news and articles from the Internets
- CHART OF THE DAY: We Are Currently In The Weakest Earnings Cycle In 55 Years | Business Insider
- 12 Terrible Things That Could Happen If You Don't Do... | Business Insider
- Eric Cantor Describes His Extremely Awkward Phone Call With Obama | Business Insider
- Here's The Heroic Story Of Why An Investment Analyst Is Getting The Medal Of... | Business Insider
- PHILLY FED MANUFACTURING SURGES | Business Insider
- Why Apple's iWatch Will Kill Off Rolex | TheStreet.com
- Here's Why Android's Design Chief Thinks The Idea Mobile Is Dead | Business Insider