In what may be construed as a sign of recovery in the US housing sector, last month new buyers lapped up the single-family homes at the fastest pace in five years.
Led by a spurt in credit card use and student loans, consumer borrowing in the United States rose by $5.08 billion in May. Consumer credit had risen by $5.67 billion in April.
We recently learned that housing starts "beat" expectations in November, rising 3.9% over the previous month. I am not a housing expert, but I thought increasing supply in an already oversaturated market with depressed demand is a bad thing. However, a recent Bloomberg article discusses why more homebuilding is a positive for the economy as it would add a significant amount of jobs to the economy. While this may be true, I believe improvement would be offset by a continuing decline in home prices.
If you're rejoicing that the worst of the economic crisis is over, hold on! Though Fed is giving the impression that nation's economy is resuming growth, all is not as rosy as it seems.
The negative impact of the withdrawal of the federal tax credit, which was offered to boost the sagging housing market, is showing too sooner than expected.
Despite the nation's economy recovering from recession, California will remain mired in economic woes throughout this fiscal year, according to the quarterly report by UCLA Anderson Forecast.
According to a survey conducted by National Association for Business Economics (NABE), the U.S. economy is expected to expand in current year and next year, along with, increase in consumer spending.
Dashing hopes that the housing sector is rebounding, a report released Friday shows that the sale of previously-owned homes slipped in January, stumbling for the second month consecutively.
The new bill makes provision for builders suffering losses in 2008 and 2009 to claim refunds from the tax paid in the previous five years.
Washington, October 28 -- The gains in U.S. home prices in recent months have failed to buoy the confidence amongt consumers.