Current Event Housing Market

Current Event Housing Market - Spencer Karren Week 1 An...

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Spencer Karren Week 1 An article in the Financial Times “US homebuilding soars in April” shows promise that the economy is stabilizing. The article states that housing starts jumped by 5.8% in April compared to the annual rate. “That hardily beat the expectations of Wall Street analysts and left starts 41 per cent higher than the same month a year ago.” With the US housing market causing the biggest majority of the economic recession that began in 2007, hearing positive news is a sign that consumer trust in the housing market is regaining. On the other hand the article reads, “The $8,000 first-time homebuyer tax credit expired at the end of April, and analysts suggested that the surge in building activity was related to that. Building permits, which foreshadow future building, were off by 11.5 per cent last month but sit nearly 16 per cent higher compared with April 2009.” In my opinion the increase in sales is a false view of the true US housing market. One of my good friends Matt Bourd had been considering purchasing a home since early February and recently became a first time home owner just before the government deadline on April 30. Before purchasing his home, we both brainstormed and speculated which would better, if he should gamble and wait to see if the house prices would drop after the effects of the
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Current Event Housing Market - Spencer Karren Week 1 An...

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