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
- Bank CEOs are the New Drug Lords | ZeroHedge
- Consumer Sentiment Remains Strong | Financial Sense
- Brazil Crashes As Rousseff Regains Lead | ZeroHedge
- The Real Crisis in Europe Will Be Political With Spain as Ground Zero | ZeroHedge
- Retail Investors Pile Into Stocks Amid "Malign, Unthinking Mental Slavery" | ZeroHedge
- "I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want" | ZeroHedge
- Russia Activates Air Defense Missile System "To Guard Its Southern Frontiers" | ZeroHedge
The most relevant financial news and articles from the Internets
- The College Majors With The Biggest Lifetime Earnings | Business Insider
- We Now Know Nearly Everything About Google's Giant New Smartphone: The... | Business Insider
- U.S. Kids Using Media Almost 8 Hours a Day - BusinessWeek | BusinessWeek
- Buried In Too Much Student Debt? Here's One Potential Solution | Business Insider
- It Is UGLY In Italy | Business Insider
- Michigan Coach Explains Why Dazed Quarterback Was Allowed To Keep Playing, Says He... | Business Insider
- Jony Ive Hung Out With Anna Wintour To Launch The... | Business Insider