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Focus on D.C. is preventing many from seeing the potential for housing - and by relation,...

  • Monday, November 26, 2012, 3:38 PM ET
    Focus on D.C. is preventing many from seeing the potential for housing - and by relation, employment - to deliver a big upside surprise in 2013, writes Jim Leaviss. If past patterns hold, the recent sharp decline in inventory should presage strong growth next year. Rising house prices removes a key psychological block from buyers - most prefer to buy into a clearly rising market.
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    Will, without credit for buyers, or jobs, there is a real limit too. As it is today most of the purchase credit is coming from GSEs who are themselves in reorganization. Don't get your hopes up unless you like bubbles and more bail outs. They may elect to go that route since they are desperate. The sharp decline in inventory has probably absorbed much of the capital available and the homebuilders know that moves to the city are going to be limited duration. Tight is going to get tighter.
    2 Dec 2012, 02:14 PM Reply Like
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