Finally — some light at the end of the (housing) tunnel
In a presentation at last week’s National Association of Home Builders’ Spring Construction Forecast conference, Mark Zandi, chief economist at Moody’s Economy.com, offered up a long-overdue ray of hope for builders and other industry businesses. Zandi even used the term “optimistic” to describe his near-term outlook, citing several positive market factors, including: housing inventories should begin to fall soon, mortgage rates are at all-time lows, and affordability is rising due to the precipitous drop in the price-income ratio. Moreover Zandi said that “more credit is on the way,” which should help spur activity in the housing market. But, we’re not out of the woods yet, he cautioned, pointing to the fact that consumer confidence remains low and job-growth is still very hard to come by.
To read the full article from the Nation’s Building News online, click here.
–Richard Kendall
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