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 Looming Shortage in Government Bonds | Financial Sense
- Peak Oil 'Demand' & The Duelling Narratives Of Energy Inventories | ZeroHedge
- Europe’s Impossible Refugee Math: Brexit Was Mathematical Certainty Eventually | Financial Sense
- Biotech Bellwether Gilead Slides After Cutting Guidance, Harvoni Sales Miss | ZeroHedge
- Is Being Unemployed Just "Bad Luck"? (Spoiler Alert: Don't Be Stupid!) | ZeroHedge
- IMF's 'Competitiveness Drive' Leaves 127,000 Greeks Earnings Under $110 Per Month | ZeroHedge
- Leaked DNC Emails Confirm Democrats Rigged Primary, Reveal Extensive Media Collusion | ZeroHedge
The most relevant financial news and articles from the Internets
- The cost of buying vs. renting a home in all 50 states | Business Insider
- Iron Chef Geoffrey Zakarian perfectly sums up why guys should always dress up | Business Insider
- Understand the payments industry in one hour with this report | Business Insider
- Marc Benioff tried to buy LinkedIn even after it announced the deal with Microsoft (... | Business Insider
- One of the most practical wallets you’ll ever use now comes with RFID... | Business Insider
- Drew Brees Tops the Power 100 in 2012 | BusinessWeek
- RANKED: The 20 best TV shows of the year so far, according to critics | Business Insider