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
- No Consensus on Rate Environment, Alibaba Misses | ZeroHedge
- The New Greek Finance Minister Has Some Questions For The World's Journalists | ZeroHedge
- What’s the Point? | iBankCoin.com
- Treasury Yields Are Crashing (Again) | ZeroHedge
- The Bond Market Has Reached Tulip Bubble Proportions | ZeroHedge
- It Will Now Cost You 0.5% To Save Money In Denmark: Danish Central Bank Cuts Rates For Third Time In Two Weeks | ZeroHedge
- December Durable Goods: A Major Disappointment | Financial Sense
The most relevant financial news and articles from the Internets
- Trading Radar... | StreetInsider.com
- There is a now a video game that lets you assemble Ikea furniture | Business Insider
- Here's How Teens Describe The Anguish Of Being Without Their Phones For 24 Hours | Business Insider
- I Didn't Believe Microsoft's New Email App Could Be Better Than Gmail — And... | Business Insider
- Liverpool boss Rodgers has no fears over Sturridge return... | Business Insider
- It turns out that Ford's new pickup truck... | Business Insider
- Sharapova out to end decade of Serena dominance | Business Insider