spur new home demand
By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois http://dtaylor.remax.com)
Mortgage Payments Have Become More Affordable Relative to Rents as the JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY reports it is difficult to argue that overbuilding is dragging down the housing market. Instead, the excess housing supply largely reflects the sharp slowdown in average annual household growth in 2007–11 to just 568,000—less than half the pace in the first half of the 2000s or even the 1.15 million averaged in the late 1990 Two factors are responsible for this drop: a decline in the rate at which individuals (particularly those under age 35) form independent households, and a sharp drop in immigration. While a variety of forces contributed to these trends, the severity of the economic recession clearly played a significant role. As 2012 began, the ingred...
Comments
0