The Housing And Economy Dance
In a recent blog, posted by Chicago Agent Magazine, they discussed how both the economy and housing market both affect each other in a delicate dance. While it's been a long time since a thriving economy has helped the housing market grow, signs of consumer confidence in the economy spilling over into the housing market has begun to appear.
In a recent survey by Urban Land Institute (ULI), 38 of the nation's leading housing economists and analysts predicted that the amount of housing starts would double from 2011 levels by 2014. And with unemployment falling to 359,000 last week, it seems the economy is beginning to improve enough to allow businesses to hire enough workers to keep unemployment low.
As confidence rises due to the recent economic news, so does the demand for housing. What do you think? Have any Realtors/Originators seen an increase in business the last 30 days? Has anyone's confidence in the improving economy had you thinking about buying a new home?