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 American Dream: An Endangered Ethos | ZeroHedge
- VIX Spikes To 2017 Highs, Stocks Suffer Worst Week In 6 Months As GOP Pulls Vote | ZeroHedge
- Stocks, Dollar, Bond Yields Tumble As GOP Leaders 'Not Confident" They Have Votes | ZeroHedge
- Praxis Seeks to Revive the Apprenticeship Model of Employment | Financial Sense
- Chinese President Throws Weight Behind Israel/Palestine Peace, Two-State Solution | ZeroHedge
- Over Half Of American Cities Are Now Dominated By Renters | ZeroHedge
- Fund flows of this size could mark a top, says Joe Friday | ZeroHedge
The most relevant financial news and articles from the Internets
- This minor 'Westworld' character will play a bigger and more deadly role... | Business Insider
- The cast of 'Love Actually' appears 13 years later in the new reunion trailer | Business Insider
- GOP DISASTER: 'TRUMPCARE' VOTE PULLED DESPITE ULTIMATUM | Business Insider
- Wall Street already knows how to spin Trumpcare's ugly... | Business Insider
- Honeywell joins Atlanta IoT research center | Business Insider
- The 10 things in advertising you need to know today | Business Insider
- AMC is planning an ad-free streaming... | Business Insider