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
- Politicians, NATO Officials Furious As Spain Plans To Refuel Russian Battle Group | ZeroHedge
- Ugly! “Failure Almost Guaranteed” Regardless of Who Wins the Election | Financial Sense
- The Smoking Gun: Cheryl Mills Tells Podesta "We Need To Clean This Up - Obama Has Emails From Her" | ZeroHedge
- US Officials To Close Schools On 'Contentious' Election Day, Fear "Backpack Bombs Or Something" | ZeroHedge
- Bonds Are Signaling BIG Trouble is Ahead | ZeroHedge
- End of Gasoline Powered Autos by 2030? | Financial Sense
- Washington's Struggle: Remaining Relevant | ZeroHedge
The most relevant financial news and articles from the Internets
- Polls show Hillary... | Business Insider
- Deep Linking Explained: The differences between basic... | Business Insider
- An English-speaking teenager woke up from a coma speaking fluent Spanish | Business Insider
- 'Why would you want to "use... | Business Insider
- The company that's supposed to protect America's... | Business Insider
- Here's how the next president could work with Congress to fix... | Business Insider
- Some strange activity on the sun is supercharging the Northern Lights | Business Insider