The momentum of the housing recovery, despite tight credit, rising prices and low inventory, is in its early stages of recovery, and panelists at the Bipartisan Policy Center’s conference say the Federal Reserve’s bond-buying program should continue. “There is a cyclical and structural nature to the problem,” reports Paul Weech of the Housing Partnership Network. “We haven’t solved for the underlying structural problem and if we revert back to the norm, we still have millions of homes trying to get back in the full market recovery.” The fastest growing age group, the baby boomers, could have the largest affect on the housing market. Wanting to continue to own a home, they may sell their current home and downgrade their living quarters to allow more time and resources for travel, as HousingWire tells MHProNews.
(Image credit: HousingWire)