Rebounding economy greeted with open arms
The Kansas City Star
President Barack Obama isn’t the only one greeting the rebounding economy with open arms.
Consumers, businesses and home buyers are, too — and just in time for the start of the holiday shopping season. Confidence among home builders and home buyers is reported to be at its highest in six years.
That means that for six long years it has been in a slump, dragging down businesses, banking and jobs. The National Association of Home Builders/Wells Fargo builder sentiment index on Tuesday showed that the confidence level was the highest since June 2006, which was before the housing bubble went ka-BOOM, leaving the economy flat and stranded.
Growth in home sales has been slow to pick back up. But it is getting better, and that’s encouraging.
Many people who have been renting and waiting for better times are finding that it’s easier on their pocketbooks to own a home rather than paying escalating rents. The pent up demand should fuel years of good growth in the housing market.