Good Economic News Will Cushion the Housing Decline
Abstract:
GDP grew at a 3.9% pace in the summer quarter but the underlying growth trend through next year remains at 2.5%. While subpar, this is enough to keep nonresidential construction expanding, although at a slower pace and to cushion the drop in home prices which is keeping prospective homebuyers on the sidelines as they wait for the bottom of the price cycle.
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GDP grew at a 3.9% pace in the summer quarter but the underlying growth trend through next year remains at 2.5%. While subpar, this is enough to keep nonresidential construction expanding, although at a slower pace and to cushion the drop in home prices which is keeping prospective homebuyers on the sidelines as they wait for the bottom of the price cycle.