Housing Industry Edges Up

According to SFGate, Federal Reserve data indicates owners’ equity in household real estate fell from the end of 2005 through the last quarter of 2011 by seven trillion dollars, about half of its value. However, it increased by $400 billion in the first quarter 2012, the quickest rate of growth in 60 years. U.S. Department of Commerce data indicate construction has been adding to gross domestic product (GDP) growth since Q2 2011. But according to David Dwyer of Bloomberg Industries, new home starts are below half of what is needed to replace decrepit and obsolete homes, as well as to accommodate young families starting out on their own. MHProNews has learned if the economy continues to falter, the current slow rebound in the housing industry will stall as well.

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