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
- Frontrunning: July 26 | ZeroHedge
- The Economics of the Saudi's "take-the-money-and-run" Strategy | ZeroHedge
- Why Swap Spreads Are Suddenly Blowing Out And Why This Is Good For Treasuries | ZeroHedge
- Oil Crashes To $41 Handle After Surprise Inventory Build, Production Rise | ZeroHedge
- "We Live In A Dystopic, Orwellian Ball Of Crazy" | ZeroHedge
- Market Recap Jul 25, 2016 | FundMyMutualFund
- Oil Rally Hopes Crushed as Inventories Hit All-Time High | Financial Sense
The most relevant financial news and articles from the Internets
- Scientists made 4 clones of Dolly the sheep — here's what happened to them... | Business Insider
- We just tried the 'Impossible Burger' — the meatless burger NYC has been waiting for | Business Insider
- How a 28-year-old got fired and then built a $500K-a-month... | Business Insider
- Amazon’s store brand, AmazonBasics, sells tons of consumer tech for cheap — here... | Business Insider
- A woman who quit a job paying over $200,000 a year explains why she's happier... | Business Insider
- The 50 best law schools in America | Business Insider
- One of Notorious B.I.G.'s songs explains what's going on with the Bank of Japan right now | Business Insider