Tagged : u.s. economy

Found 5 blog entries tagged as "u.s. economy".


Wall Street Journal - U.S. home builders reported the best conditions in the housing market since the mid-2000s boom, the latest sign home sales are becoming more robust and will power the U.S. economy this year.

The National Association of Home Builders, an industry trade group, said Monday that its housing-market index leapt to a reading of 52 in June, up by eight points from May. The jump was the biggest since the summer 2002.

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bloomberg.com - The “R” word that economists were using after yesterday’s news that U.S. gross domestic product contracted in the fourth quarter was rebound, not recession.

 

The economy will bounce back in the current quarter after plunging defense spending and dwindling inventory growth swamped gains for consumers and businesses in the final three months of 2012, according to economists at JPMorgan Chase & Co., Bank of America Corp. and Morgan Stanley. Businesses probably will rebuild stockpiles while consumers and companies keep on spending.

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businessweek.com - New-home construction unexpectedly climbed to a four-year high in October, more evidence of a revival in the industry that’s helping propel the U.S. economy.

Housing starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed today in Washington. The median forecast of 82 economists called for an 840,000 pace. Permits for the construction of single-family homes also advanced to the highest in four years.

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realtor.org – New survey findings, combined with an analysis of historic credit scores and loan performance, show home sales could be notably higher by returning to reasonably safe and sound lending standards, which also would create new jobs, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said there would be enormous benefits to the U.S. economy if mortgage lending conditions return to normal.  “Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” he said.  “The economic activity created through these additional home sales would add 250,000 to 350,000 jobs in related trades and services almost immediately, and without a cost impact.”

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forbes.com - “While the general U.S. economy continues to struggle to make gains, for the first time since the end of the recession, housing may actually make a significant contribution to economic growth in 2012, a welcome change to affairs for an otherwise struggling economy.”

The above excerpt comes from CoreLogic’s August MarketPulse Report which provides insight into the current and future health of the U.S. economy with emphasis on housing and mortgage metrics.

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