Cold, Hard Numbers: 80
Number of housing markets that are showing improvement thus far in August according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI). 75 markets on the list simply retained a spot while five new areas – Miami and Palm Bay, Florida; Hinesville, Georgia; Terre Haute, Indiana; and Lubbock, Texas – were added. NAHB chief economist David Crowe said that the results indicate that “the emerging housing recovery has a solid foundation” and expressed hope that housing would soon return to “its traditional role of driving economic growth”[1].
[1] http://nationalmortgageprofessional.com/news30741/eighty-housing-markets-show-improvement-august
Comments (3)
Category: Real Estate
Wow!!!????? I believe the exact opposite!!!
More propaganda without any solid foundation.
Totally agree with Anthony Garcia and “Common Sense”. Some markets may show some improvement but to claim “the emerging housing recovery has a solid foundation” and expressed hope that housing would soon return to “its traditional role of driving economic growth” is nothing more than cheerleading and extremely wishful thinking! Nobody has yet given much of a reason for a real estate turnaround. We had a massive collapse of a RE BUBBLE because the necessary underlying, fundamental economic drivers weren’t there and still aren’t.
Where are the jobs and the rising wage and salary levels necessary to justify the economic growth? What about the “shadow inventory” of homes in foreclosure, on the verge of foreclosure (more than you would care to think about)and mortgages underwater.
We are tied to the world economy and things aren’t looking too good for it either, so again, what is the solid foundation and economic growth based on?