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
- Money Is Energy: George Mobus Discusses Biophysical Economics and Alternative Theories of Value | Financial Sense
- Still Looks Like A Trap | ZeroHedge
- The New Normal: From $34.00 an Hour to $2.65 Plus Tips. | ZeroHedge
- Let's Stop Pretending Nuclear Power Is Commercially Viable | ZeroHedge
- More Lukewarm Econ Data to Match Q1 Earnings | Financial Sense
- Candidates Confirm: No Crash This Year | Financial Sense
- Bernie Sanders' Wife: "It Would be Nice If The FBI Moved Along Hillary's Email Probe" | ZeroHedge
The most relevant financial news and articles from the Internets
- Most of the offers Yahoo is shortlisting are... | Business Insider
- This incredible dog has a super important job at a... | Business Insider
- Uber has a secret weapon in its quest for world domination | Business Insider
- Japanese engineers have built a super-efficient floating solar plant | Business Insider
- The 10 best energy companies to work for in America | Business Insider
- An Australian politician set a river on fire to show the effects of fracking on the environment... | Business Insider
- It's not looking too good for the coal industry | Business Insider