Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

U.S. Housing Performance Predicted to Remain Strong
Mar 25, 2004
 Printable format
 Email this Article
 Search

According to the National Association of Home Builders (NAHB), economists believe the U.S. housing industry will continue to perform well during 2004 and beyond despite concerns over a housing pricing bubble.

According to experts, rising household incomes and low interest rates accompanying the lowest levels of inflation in 4 decades have produced a solid foundation for the housing industry, which can be expected to continue for the next few years.

"Gains in new home prices for last year are similar to the previous years," said Jim Glassman, senior economist for JP Morgan Chase. "There is nothing going on to suggest that home prices are straining or getting out there. We're seeing that when we do better, when incomes are up and when it's cheaper to finance, people want more housing."

NAHB chief economist David Seiders predicted that there will be some upward momentum in mortgage rates throughout 2004, but noted that those rates so far have been lower than expected, with 30-year, fixed-rate mortgages averaging below 5.4 percent. Mr. Seiders anticipates that mortgage rates likely will average 5.6 percent in the current quarter and rise to 6.1 percent by the end of the year, accompanied by a slight decline in both starts and sales activity and a five percent gain in home prices.

According to David Crowe, NAHB's senior vice president of Federal Regulatory and Housing Policy, while house price appreciation has been good news for the nation's home owners and the economy, it has proved challenging for municipal employees and others who can't afford to live in the communities where they work.

Among the solutions are a homeownership tax credit, no-down payment loans insured by the Federal Housing Administration, and the removal of regulatory barriers imposed on new developments, Mr. Crowe said.

Back to Daily News

 

Daily News

...........................................................

Oct 21, 2014: AHRI Annual Meeting Registration Remains Open

Oct 20, 2014: Electrolux 3Q Operating Income up 29%

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: Corrected: AHRI Annual Meeting Registration Remains Open

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows