WSJ: “The U.S. Housing Bust Is Over”

News Unplugged

Want some good economic news? Sure you do. Here it is: the nation’s long housing bust has ended, according to The Wall Street Journal. In its story “The U.S. Housing Bust Is Over”, the WSJ says: “The housing market has turned–at last …. the numbers are now convincing.”

The WSJ reports that home prices are slowly rising, there’s an increase in sales of existing single-family homes, and housing starts are improving. And the WSJ concludes:

From here on, housing is unlikely to drag the U.S. economy down further. It will instead reflect the strength or weakness of the overall economy: The more jobs, the more confident Americans are about keeping their jobs, the more they are willing to buy houses.

But the WSJ adds if the market is flooded with the large inventory of unsold homes that are currently underwater or facing foreclosure, it “could reverse the recent rise…

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Published in: on July 11, 2012 at 9:22 pm  Leave a Comment  
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