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Housing is Recovering - Will It Last?

Posted by: Tim Halbur

31 October 2009 - 1:00pm

Business Week looks at the recovering housing market, and believes that even though it was driven by massive government support there are signs that it might actually continue.

A video interview with Business Week editors is included with the article.

"Policy alone cannot explain the 24% gain in existing home sales since January, nor the 22% increase in new-home purchases, the 40% rise in single-family housing starts, and the recent upturn in home prices. The primary driver is historically high affordability. Fixed 30-year mortgage rates are at 5%, a multi-decade low, and prices have plunged a total of 30% since May 2006, based on the Standard & Poor's Case-Shiller Home Price Index."

Full Story: Business Outlook: A Housing Recovery with a Solid Foundation
Source: Business Week, October 30, 2009
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Now, more than ever, Americans are clamoring to get out of their cars and have more transportation options than the car-centric approach first envisioned and deployed in the 1950s is providing.
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