Housing Is Back – Good News For Economy

Traditionally, the construction industry and especially new home building has been the driver for leading the American economy out of recession.  Needless to say, the housing collapse and the financial crisis meant that demand for new homes virtually disappeared. Now, it may be that the next generation will not be as home-centric as previous generations but it is nice to see that new home sales are back to levels last seen in January, 2008 and near the median that existed for the last 50 years.  I hope and doubt we will ever see the bubble in building that we saw in the early 2000s where the number of new homes being built was more that double the norm. But the resurgence of new home building will only be a boost to the national economy in the next few years.